defined benefit plan

noun

de·​fined benefit plan
: a pension plan in which the amount of benefits paid to an employee after retirement is fixed in advance in accordance with a formula given in the plan

Dictionary Entries Near defined benefit plan

Cite this Entry

“Defined benefit plan.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/defined%20benefit%20plan. Accessed 28 Feb. 2024.

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