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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments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.
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.
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.