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tax-deferred annuity

[taks-di-furd] /ˈtæks dɪˌfɜrd/
noun
1.
an annuity that enables one to purchase an insurance product that will earn interest, with the tax obligation deferred until withdrawals begin, usually at retirement.
Abbreviation: TDA.
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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