an|nu|i|ty

an|nu|i|ty «uh NOO uh tee, -NYOO-», noun, plural -ties.

1. a sum of money paid every year or in installments at certain regular times: »

Mr. Smith gives his old employees annuities after they retire.

2. the right to receive or duty to pay such a sum of money.

3. an investment that provides a fixed yearly income during one's lifetime or for a specified time.

╂[< Middle French annuité < Medieval Latin annuitas < Latin annus year]