Defined-benefit plan Defined-benefit plan is a type of pension plan in which the retirement benefit is known in advance but the contributions vary depending on
Defined contribution plan Defined contribution plan is an individual account plan in which the employer contributes a specific amount of money into each year that is to be distributed among the accounts of each plan participant.
Defined Benefit Pensions Defined Benefit Pensions are a pension plan that pays a specified monetary benefit, usually based on a pensioner’s years of service and
Defined Contribution Pensions Defined Contribution Pensions are a pension plan that makes no specified promise about the level of pension paid out after retirement.
Defined Contribution Plans Defined contribution pension plans specify what contribution the employee and/or employer will make to the employee’s retirement or savings fund.
Defined Benefit Pension Plans With defined benefit pension plans, employees know ahead of time the pension benefits they will receive (the benefit is “defined” or specified by amount or formula).
Definition
[ imp. & p. p.]