fixed annuity

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fixed annuity

n.
An annuity in which payments to the annuitant are unchanging over a specified period or over the annuitant's lifetime.
References in periodicals archive ?
For example, he says, if a participant wants to delay Social Security and needs a pay-out strategy to bridge the five years until he reaches 70, an immediate fixed-income annuity is appropriate.
State and local governments would be able to provide a traditional defined benefit pension plan as well as a deferred fixed-income annuity contract, although individual employees would not be able to participate in both.
The standard annuity is a fixed-income annuity. To receive a guaranteed $1,000 a month, a fixed annuity today would cost a 65-year-old man roughly $165,000 (about $175,000 for a woman because women usually live longer).