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 26 Dec. 2024.
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