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tax-deferred annuity

American  
[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. TDA

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Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.