This refers to employee benefits that are defined, either as a fixed amount or a certain percentage of the beneficiary’s salary at his or her time of retirement. Defined-benefit plans can be pension plans, some Keogh plans, and health and welfare plans.
Defined-benefit plan
This refers to employee benefits that are defined, either as a fixed amount or a certain percentage of the beneficiary’s salary at his or her time of retirement. Defined-benefit plans can be pension plans, some Keogh plans, and health and welfare plans.
