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annuity
(redirected from annuitizing)

    Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia, Hutchinson 0.01 sec.
annuity: see insurance insurance or assurance, device for indemnifying or guaranteeing an individual against loss. Reimbursement is made from a fund to which many individuals exposed to the same risk have contributed certain specified amounts, called premiums.
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annuity

Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. Under an annuity certain, a specified number of payments are made, after which the annuity stops. With a contingent annuity, each payment depends on the continuance of a given status; for example, a life annuity continues only as long as the recipient survives. Contingent annuities such as pension plans or life insurance depend on shared risk. Everyone pays in a fixed amount until the annuity begins; some will not live long enough to receive back all the money they have paid, while others will live long enough to collect more than they have paid.
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Annuitizing conservative assets allows them to work harder, "and then you've allowed those other less-conservative investments to grow and to build, hopefully," he said.
Fencing in the risk: medically underwritten immediate annuities are ... by Panko, Ron / Best's Review
For instance, if a company annuitized one-third of a plan's liabilities (by annuitizing its retirees), then one-third of the deferred gain is immediately recognized as income under FAS 88.
Look to Annuities to Salve Pension Fears by Toale, Thomas / Financial Executive
You can avoid this dilemma by annuitizing a private pension, but since annuity-purchasers tend to live longer, insurance companies charge a steep premium for this service.
COUNTDOWN TO REFORM: The Great Social Security Debate by Chait, Jonathan / Washington Monthly
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