tax-deferred annuity

[ taks-di-furd ]
/ ˈtæks dɪˌfɜrd /

noun

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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Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020