defined contribution plan

noun

Legal Definition of defined contribution plan

: a pension plan in which the amount of the contributions made by the employer is fixed in advance and earnings are distributed proportionately

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“Defined contribution plan.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/defined%20contribution%20plan. Accessed 30 Oct. 2020.

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