Tax-deferred Annuity

Tax-deferred Annuity means:
a retirement plan permitted for employees of educational institutions and certain other tax-exempt organizations whereby the taxes on both employer and employee contributions are deferred until the funds are withdrawn. Cash value and dividends accrue but also are not taxed until the annuitant actually receives the benefits. Former IRC (check if this IRC provision is current here) §403(b).

See also other Tax Terms and Definitions in U.S.A.

tax-sheltered annuity.

See Dividend in the American Legal Encyclopedia and Dividend in the World Legal Encyclopedia.