defined benefit plan A retirement plan that provides a specified benefit based on salary and years of service.
(2) A retirement program that pays a fixed benefit based on age at retirement, years of service, and/or pre-retirement salary.
retirement plan for an individual based on a single contract with a benefit based on current earnings, as if they will remain static until normal retirement age .
A benefit plan that calculates a recipient's retirement benefit based on the period during which the employee earned his or her highest income.
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A defined-benefit plan that calculating a recipient's retirement benefit based on the best-earnings of the employee career, usually over a three or five year period.
Canada Pension Plan (CPP): ...
Best-Earnings Plan: A defined-benefit plan that calculates a recipient's retirement benefit based on the period (usually three or five years) in which the employee earned his or her highest income.
Defined Benefit Plan: An employer-funded retirement plan designed to pay a predetermined benefit based on an employee's salary and service.
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 See also: Career, Franchise, Business plan, Saving, Retirement benefits
  
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