pension plan


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pen·sion plan

 (pĕn′shən)
n.
An arrangement for paying a pension to an employee, especially one funded fully or in large part by an employer.

pen′sion plan`


n.
a plan maintained by a company or organization, either with or without contributions by employees, for making regular payments of benefits to retired or disabled employees.
[1955–60]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.pension plan - a plan for setting aside money to be spent after retirement
plan, program, programme - a series of steps to be carried out or goals to be accomplished; "they drew up a six-step plan"; "they discussed plans for a new bond issue"
401-k, 401-k plan - a retirement savings plan that is funded by employee contributions and (often) matching contributions from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments yourself
individual retirement account, IRA - a retirement plan that allows you to contribute a limited yearly sum toward your retirement; taxes on the interest earned in the account are deferred
Keogh plan - a tax-deferred pension plan for employees of unincorporated businesses or for self-employed persons
References in periodicals archive ?
These pronouncements cover reporting requirements for pension plan activities in published, audited annual reports.
For example, the Pennsylvania Railroad pension plan, begun in 1903 for less than $300,000, cost $3.
An additional 6 percent plan to move from a traditional pension plan to either a cash balance or pension equity plan.
The diocesan council of Montreal has approved a recommendation to merge all the assets and liabilities of the Diocesan Clergy Pension Plan with the General Synod pension plan effective, Jan.
But Friend doesn't believe that a wave of pension plan terminations is necessarily coming.
However, in most cases, the planner recommends that the trust not be named as a beneficiary of either the decedent's share of a pension plan or IRA accounts; unless the trust qualifies as a "look-through" trust, the heirs will be required to receive and be taxed on the entire pension benefits within a five-year timeframe; see Sec.
Market fluctuations are borne by the employee, not the employer, meaning the employee has the chance either to make much more or much less than he or she would in a traditional pension plan.
However, while higher contributions divert cash to the pension plan that is not available for other employer purposes, those contributions may lower the long-term cost of the plan if its assets experience a higher tax-adjusted return than the marginal use of cash within the organization (or if the return is higher than the marginal cost of borrowing for the employer).
OTTAWA -- The Canada Pension Plan and the mandatory retirement age of 65 years needs to be restructured says a report of the Canadian Taxpayers Federation.
In addition individuals generally will be able to move aftertax contributions from their pension plan into a traditional IRA.
At another level, the monopoly LIC has come out with the first-ever investigation on the mortality of annuitants involved in its pension plans-- Jeevan Akshaya, an immediate pension plan, and Jeevan Dhara and Jeevan Suraksha, both deferred-pension plans.
The Fortune 500 firm employs 105,000 and has $14 billion in its pension plan.