group annuity

Definition of "group annuity"
  1. This is a kind of retirement plan that provides regular payments to all qualifying individuals, typically under a comprehensive agreement often issued to a business for its workers' advantage
How to use "group annuity" in a sentence
  1. The company offers a group annuity plan for all eligible employees.
  2. After retiring, she started receiving benefits from the group annuity she had contributed to during her working years.
  3. Under the group annuity, all qualified employees will receive a certain amount upon retirement.

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