pension

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Related to Defined benefit: Defined benefit plan

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 ?
Dedicated DB is focussed on providing defined benefit plans for high-income professionals, small businesses, and individuals with self-employment income.
A defined benefit plan is an employer-sponsored plan that promises a recipient a certain amount to be paid in retirement based on a formula, usually a function of factors such as length of service and average compensation.
While the generous contribution limit alone can provide the small business owner with a powerful incentive to create a defined benefit plan, with all eyes focused on today's fiscal cliff negotiations, these plans become even more attractive.
In a freeze, a company continues its defined benefit plan, but future accruals for some or all participants stop.
The first section, Justification for the Employer-Based System, focuses on the advantages of defined benefit retirement plans.
John Ball, head of defined benefit consulting at Watson Wyatt, said: "It is a trend that is likely to pick up this year.
Four out of 10 companies with open defined benefit schemes said they did not expect to make any changes to them during the coming five years, while 22% thought they would modify them but retain some defined benefit elements.
But the group said that although the current funding position appeared strong, the stock market volatility seen during the third quarter of the year highlighted the risks to companies that still have defined benefit schemes.
The main benefit of a defined benefit plan for a small business owner is to reduce the owner's tax burden but there may be other significant benefits.
The annual Limit for defined benefits is $175,000 for retirement ages 62-65.
Forum participants debated both the specifics of potential changes to the regulations governing America's defined benefit pension system and broader ideas about how policymakers should address retirement income security.
In 1978, 41 percent of private sector workers were covered by defined benefit pension plans.

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