A defined contribution plan in which the amount of contributions each employee...
A defined-contribution retirement plan into which an employer contributes a specified percentage of each employee's compensation each year.
a defined contribution qualified retirement plan where employer contributions are based on a percentage of each employee's salary; the employer is required to make annual contributions to the plan
A defined contribution plan under which the employerâ€™s contributions are mandatory and are usually based on each participantâ€™s compensation. Retirement benefits under the plan are based on the amount in the participantâ€™s individual account at retirement.
A Money Purchase Plan is a Defined Contribution Plan in which the employer's required annual contributions are specified in the plan document, usually as a percentage of compensation.
The type of defined contribution plan in which your employer contributes a certain amount of money to the plan each year. When you retire, you get a benefit that is based on the amount of money accumulated in your plan account.
A retirement plan with fixed employer contributions that are allocated to individual accounts established for each employee. This money is used to purchase an annuity or provide some other kind of retirement income. Noncompetition Agreement An agreement made by the employee that he or she will not compete with the employer once the employee terminates employment. It is usually not considered a part of compensation, but could greatly affect compensation if the agreement is broken. The terms usually require that the executive keep certain information confidential, as defined by the employer, and not compete with the company in certain specified ways within a certain geographic area for a set time period. Noncontributory Plan A plan that is funded by the employer. The employee cannot make contributions. Nonqualified Deferred Compensation Plan A deferred compensation plan that does not receive favored tax treatment, usually because it does not meet the IRS rules concerning who is allowed to participate in the plan or because they offer more benefits that allowed by the IRS rules.
A defined contribution plan in which employer contributions are usually determined as a percentage of pay. Forfeitures resulting from separation of service prior to full vesting can be used to reduce the employer's contributions or be reallocated among remaining employees.
An individual account plan, in which the employer has a fixed obligation to make annual contributions to the plan, usually based on a percentage of pay.
A defined contribution plan under which the employer is subject to minimum funding requirements. Contributions are usually based on each participant's compensation. Retirement benefits under the plan are based on the amount in the participant's individual account at retirement.
A qualified retirement plan in which the employer contributes an amount to each employee's plan account in proportion to his or her wages. A Money Purchase Pension Plan represents a fixed commitment on the part of the employer to fund the plan according to the funding percentage set forth in the plan documents.
See Defined Contribution Plan.
A type of defined contribution plan in which employer contributions are based on a percentage of the employee's pay.
Another term for defined contribution pension plan.
A defined contribution plan to which employer contributions are fixed.
A pension plan in which employees purchase their future retirement benefits. A company may also contribute to the plan but the benefits that each employee receives are related to the contributions, not to a formula. Also called a "defined-contribution plan."