A retirement plan, not necessarily an annuity, for employees of non-profit organizations, such as schools and churches. Those who qualify can elect to have a specific percentage of their income set aside for retirement and delay income taxes until the money is withdrawn. Sometimes called tax-sheltered annuity or TSA.
Annuities available for purchase by employees of certain non-profit and public education institutions as described in IRC §501(c)(3). Money used to purchase the annuity is not taxable as income until annuity payments begin, usually at retirement. Also known as a Tax-Sheltered Annuity (TSA).
a contract between you and an insurance company for a guaranteed interest-bearing account with guaranteed annuity income options