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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments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 ?
The results of the Milliman 100 Pension Funding Index were based on the actual pension plan accounting information disclosed in the footnotes to the companies' annual reports for the preceding fiscal year and for previous fiscal years.
Estimates are that only one in six employees in Alberta s private sector belongs to a pension plan.
Current administrative employees are provided by LTD with a "defined benefit" pension plan, under which on their retirement, they are paid a set annual amount for life, based on their salary.
Delta Air Lines will decide soon whether to terminate a pension plan covering current and retired ground workers and flight attendants.
Shumate, 504 US 753 (1992), the Supreme Court held an antialienation provision in an ERISA-qualified pension plan constituted an enforceable restriction on transfer under "applicable nonbankruptcy law" (Id.
The results are similar to the findings of the second annual Conference Board-Watson Wyatt Worldwide survey of chief financial officers on pension risk in early 2005, outlined in the report, The Pension Plan Crisis Continues.
CoGS also approved the merger of the diocese of Montreal pension plan and the General Synod pension plan, effective Jan.
As a result, the UK pensions regulator is insisting that, as long as underfunding persists, pension plan trustees act as unsecured creditors in negotiating funding with their sponsoring employers.
How these rules apply to pension plan distributions has been explained in several court cases.
On top of that, "what is needed is a universal pension plan," says Gunnels of Sanders's office.
Pension plans and fiduciary responsibility rocketed into the regulatory spotlight with Enron's collapse, and with United Airlines recent high-profile pension plan failure, the increased scrutiny won't be subsiding anytime soon.
One measure, sponsored by the UCLA Faculty Association, would create a 401(k)-style pension plan for public employees almost identical to the governor's proposal, but would allow University of California employees to remain on a traditional pension plan.