A noncontributory plan is a retirement plan that does not require its members to make contributions in order to earn service credit.
A group insurance plan in which the entire premium is paid by the employer.
One in which the employer provides all the funds.
A group plan or health policy in which the employer pays the entire premium. Such a plan is referred to as "noncontributory" because the beneficiaries are not required to contribute to the payment of premiums.
Any employee plan or program of insurance (usually group) in which the employer pays the entire premium and the employer-insured contributes no part of the premium.
A pension or employee-benefit plan in which contributions are made entirely by the plan sponsor. Contrast with contributory plan.----------[ Back
Group insurance plan under which the employer does not require employees to share in its cost.
An employee benefit plan under which the employer bears the full cost of the employees' benefits; must insure 100 percent of eligible employees.
(1) A group insurance plan under which insured group members are not required to contribute any part of the premium for the coverage. The premiums are paid entirely by the employer or group policyholder and all eligible group members are automatically provided with coverage. (2) Retirement plans that do not require plan participants to make contributions to fund the plan. Contrast with contributory plan.
A plan that is funded by the employer. The employee cannot make contributions.
Pension plan in which all the funds for pension benefits are provided by the employer.