Defined benefit pension plan

defined benefit pension plan
A retirement plan that specifies the amount that a retiree will receive, such as 1% of the person's recent salary times the years of service.

defined benefit pension plan
program stipulating the pension benefits employees will obtain when they retire. The pension benefit formula usually is based on the worker's salary level nearing retirement age and considers the employment years.

Defined Benefit Pension Plan: A plan that pays out a predetermined benefit amount to a retired employee based on career earnings or final earnings and years of service. Contributions may be made by employees, employers or both parties.

Defined Benefit Pension Plan:
.A defined benefit pension plan is a pension plan, generally sponsored by an employer, that promises to pay a certain benefit at retirement.

Defined benefit pension plan - A registered pension plan that guarantees a specific income at retirement, based on earnings and the number of years worked.

Defined Benefit Pension Plan (DBPP)
Defined Contribution Pension Plan (DCPP)
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Defined benefit pension plans that are guaranteed by life insurance products. Related: non-insured plans
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Defined benefit pension plan
Plan that guarantees a specified level of retirement income to each participant, based on the participant's salary and number of years of service.

Defined benefit pension plans that are not guaranteed by life insurance products
Noninterest-bearing note
A note without periodic interest payment, but selling at a discount and maturing at face value.

Defined Benefit Pension Plan (DBPP)
Registered pension plans (RPPs), which are regulated by either federal or provincial legislation, are either Defined Benefit Pension Plans or Defined Contribution Pension Plans.

Defined Benefit Pension Plan
A pension plan which defines the benefits to be paid to the employee by a formula stipulated in the pension plan agreement.

Many defined benefit pension plans began to accumulate large deficits because of stock market losses in 2000 through 2002.

In a defined benefit pension plan, the difference between the actuarially-determined value of the projected future benefit costs (both vested and manifested) and administrative expenses, as well as the unamortized portion of prior benefit costs, ...

A kind of defined benefit pension plan that bases its retirement on final pay, however the percentage at a certain rate per year based upon the individual's age and/or service.
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Insured plans Defined benefit pension plans that are guaranteed by life insurance products. Related: ...

Insured plans
Defined benefit pension plans that are guaranteed by life insurance products. Related: Non-insured plans
Insured Trade Acceptance
A trade acceptance where the buyer's ability to pay is insured.

Pension reversion Termination of an overfunded defined benefit pension plan and replacement of it with a life insurance company-sponsored fixed annuity plan. Pension sponsors Organizations that have established a pension plan.

Defined benefit pension plan Retirement plan in which a fixed amount is paid to the employee after a certain number of years of service. Contributions are usually made by the employer.

PENSION BENEFIT GUARANTY CORPORATION (PBGC) The federal government organization that insures the benefits in qualified defined benefit pension plans. The PBGC was established by Title IV of the Employee Retirement Income Security Act (ERISA) in 1974.

An off-balance sheet asset or liability created under FAS 87 rules when plan assets in a defined benefit pension plan exceed or fall short of the projected benefit obligation (PBO).

If you take the lump sum from a defined benefit pension plan, the employer follows specific regulatory rules to calculate how much you would have received over your estimated lifespan if you'd taken the pension as an annuity and then subtracts the ...

Service to an employer that is recognized for the defined benefit pension plan purposes, but either occurred before the employee was a member in the plan, or before the plans inception.

To avoid exposure to parallel spot curve shifts, an organization (such as an insurance company or defined benefit pension plan) with significant fixed income exposures might structure its assets so that their duration matches the duration of its ...

In recent years, companies have increasingly shifted from defined benefit pension plans, which guarantee workers a predetermined retirement income, to defined contribution plans, ...

In contrast, if you're part of a defined benefit pension plan, your employer is responsible for making the investment decisions. If you own a fixed annuity, the insurance company makes the investment decisions.

401(k) plans are increasingly replacing traditional defined benefit pension plans in the workplace, largely because they are less expensive to administer and shift much of the responsibility for providing retirement income to the employee.
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Participants in a company's Defined Benefit Pension Plan gain the right to the employer's contributions to the plan after a vesting period normally after ten years of employment.

Noninsured plans
Definition: [crh] Defined benefit pension plans that are not guaranteed by life insurance products. Related: Definition: EF="/?rd=Insured+plans"Insured plans.

Termination of an overfunded defined benefit pension plan and replacement of it with a life insurance company-sponsored fixed annuity plan.
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PENSION (AND OTHER EMPLOYEE BENEFIT) TRUST FUNDS - A fiduciary fund type used to report resources that are required to be held in trust for the members and beneficiaries of defined benefit pension plans, defined contribution plans, ...

The level you can contribute to a 457(b) plan has a yearly dollar cap but the dollar amount gets a gradual boost each year until 2006. Employers often offer a 457(b) plan to supplement a defined benefit pension plan.

But, the bulk of the pension assets and obligations are carried on the books of the separate pension trust fund. Because of reporting complexities and actuarial risks, defined benefit pension plans are becoming less common.

The result of this is to increase the value of ...(Read more)
Defined Benefit Pension Plan
A pension plan in which an employee's pension benefit is related to number of years service and final salary with each employer....(Read more) ...

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