pension

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pension

(1) A regular payment plan intended to provide a person who retired from a job with a secure income for life.
(2) A monthly payment from a pension.
References in periodicals archive ?
As participants enter retirement, defined contribution plans could improve outcomes by maintaining a relationship with retirees so they could continue to get the benefits of institutional pricing and professional oversight of investment options in the plan.
2004-10 appears to provide a tool for plan sponsors to encourage terminated employees with account balances over $5,000 to empty their defined contribution plan accounts, by charging a pro-rata share of plan administrative expenses to the former employees' accounts, while having the plan sponsor pay administrative expenses for active employees.
It's important to keep in mind that defined benefit plans are most effective when they complement a defined contribution plan.
This article identifies the forces pushing health care purchasers to adopt defined contribution plans and discusses the implications of such a movement on the physician-patient relationship.
The Internal Revenue Service has issued final regulations on the special rules relating to optional forms of benefits under defined contribution plans.
That is crucial, because under a defined contribution plan the ultimate benefit will be determined by how wisely employees invest their savings.
In this defined benefit plan that looks like a defined contribution plan, the employer creates "phantom" accounts for employees and credits them with an annual contribution.
In contrast to defined contribution plans, in defined benefit plans the employer accepts the investment risk of the plan.
Defined contribution plans were greatly enhanced by Congress during the 1970s and 1980s, and Congress has continued to create new defined contribution approaches (Simplified Employee Pensions and other legislative proposals) to expand usage of the defined contribution plan.
In a defined contribution plan, that's manageable; in a defined benefit plan, it's not.
Many private sector companies have abandoned traditional pension plans and replaced them with defined contribution plans, putting much of the burden for retirement saving on individual workers.