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Florida Lottery Question

Topic closed. 1 reply. Last post 8 years ago by KY Floyd.

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United States
Member #69876
January 18, 2009
3 Posts
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Posted: January 18, 2009, 8:38 pm - IP Logged

Hi guys!

I'm new to the forum and have always wanted to know something about the Fl lottery.  Do you know how the state guarantees the funds for those people that choose to take the 30 yr annuity payments?  Do you know if its a specific type of federal bond?  Thanks!!

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    NY
    United States
    Member #23835
    October 16, 2005
    3501 Posts
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    Posted: January 19, 2009, 5:07 am - IP Logged

    AFAIK, all states use the cash to buy government securities. They need to guarantee the annuity for a fairly long time, so it's a pretty safe bet that they generally buy long term bonds.