pension

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Related to Defined-benefit pension: Defined Contribution Pension 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 ?
The Financial Conduct Authority backs up these fears and the watchdog estimates only 47% of transfers out of defined-benefit pensions can be deemed suitable for the individual.
General Motors took a more drastic approach to managing the risks involved in defined-benefit pensions when it announced recently that it will offer lump-sum buyouts to salaried retirees and transfer the management of its active pension plans for salaried retirees to Prudential Financial.
Assumed discount rates for defined-benefit pension plans declined sharply in 1993, apparently in response to (1) an across-the-board interest rate decline and (2) a statement by Securities and Exchange Commission Chief Accountant Walter Schuetze that public companies should use discount rates that reflect current market rates.
The USW beat back the potentially devastating effects of the cap on retirees by negotiating millions of dollars into a fund to cover retiree health care costs, and halted the company's drive for a two-tier system for new hires, who will remain on the same health care plan and participate in Alcoa's defined-benefit pension plan and not just a 401(k) plan.
Public pensions gained substantial attention due to the need for governments to contribute additional amounts to underfunded defined-benefit pension plans when budgets were already constrained.