Definition of unfunded plan
: a pension or retirement plan under which the employer is free to finance payments to retired workers on a pay-as-you-go basis — compare insured plan , trusteed plan
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“Unfunded plan.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/unfunded%20plan. Accessed 16 May. 2021.
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