deferred group annuity

deferred group annuity definition - business

deferred group annuity

A retirement plan in which a single-payment deferred annuity is purchased for each member of a group, so that each member will receive a lifetime income beginning on a specified date.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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