group annuities

Definition of "group annuities"
  1. Annuities procured by a member of a group via a master agreement issued to the collective they're part of, providing periodic payments for a defined time frame or the recipient's lifetime, generally starting at retirement
How to use "group annuities" in a sentence
  1. After his retirement, Mark started receiving payments from the group annuities he bought as a union member.
  2. The company offers employees the option to buy into group annuities as part of their retirement plan.
  3. The group annuities offered by the association provided her a secure income stream after retirement.

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