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.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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]
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.
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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments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
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
References in periodicals archive ?
Scripps has entered into an agreement with Massachusetts Mutual Life Insurance to purchase a group annuity contract and transfer approximately $50M of the company's pension plan obligations.
Innergex owns a 69.55% interest in the wind farms and Desjardins Group Pension Plan owns the remaining 30.45%.
Every pension plan has a unique history, legal framework, and financial condition.
Foreign pension plan participation is an issue for U.S.
While government programs such as the Canada Pension Plan, Old Age Security, and the Guaranteed Income Supplement have reduced the level of seniors' poverty over a 40-year period, it is still persistent and ever present.
Korea has a number of systems in place to guarantee that the elderly have a source of income: The National Pension Plan was introduced in 1988, personal pension plans were introduced in 1994, and retirement pension plans were introduced in 2004.
In reviewing estimated year-end pension plan results, Towers Watson found that 2013 pension plan funding levels increased by 16 %age points to reach their highest levels since 2007.
Morningstar's municipal credit analysts found that, based on two key funding metrics, the state of Wisconsin has the strongest-funded state pension plan system, while Illinois has the weakest among all 50 states.
Because GM has a huge pension plan, "they may view it as they're getting penalized for having the potential for so much volatility to their balance sheets coming from these pension plans," he says, noting that if GM shrinks its pension plan, it should have less year-to-year volatility and a more stable balance sheet.
11 June 2012 - British outdoor soccer centres operator Goals Soccer Centres plc (LON:GOAL) on Monday said that the deadline for Canadian investor Ontario Teachersa[euro](tm) Pension Plan Board to submit a firm takeover offer for the company had been extended to 9 July.
The company stated that it would invest USD2bn in the United States pension plan, make USD350m in benefit payments and put the remaining USD1.45bn into other plans across the globe.