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Florida Lottery Question

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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!!

KY Floyd's avatar - sunflowers avatar.jpg

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.

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