Pension Plan

Business / Accounting / Pension Plan: A contract between a company and it employees whereby the company agrees to pay benefits to employees after their retirement.

Other Words for Pension

Pension Noun Synonyms: benefit, allowance, annuity, subsistence, superannuation, allotment, old-age pension, social security, golden handshake
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Other Words for Plan

Plan Noun Synonyms: design, layout, blueprint, scheme, method, procedure, system, arrangement, programme, project, formula, pattern, script, scenario
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Overfunded Pension Plan

Business / Finance / Overfunded Pension Plan: A pension plan that has a positive surplus (i.e., assets exceed liabilities). MORE

Pension Benefit Guaranty Corporation (PBGC)

Business / Finance / Pension Benefit Guaranty Corporation (PBGC): A federal agency that insures the vested benefits of pension plan participants (established in 1974 by the ERISA legislation). MORE

Noninsured Plans

Business / Finance / Noninsured Plans: Defined benefit pension plans that are not guaranteed by life insurance products. Related: Insured plans. MORE

Noncontributory Pension Plan

Business / Finance / Noncontributory Pension Plan: A pension plan that is fully paid for by the employer, requiring no employee contributions. MORE

Integrated Pension Plan

Business / Taxes / Integrated Pension Plan: In an integrated pension plan, your employer counts part of your Social Security benefit in the defined benefit pension you’re entitled to and takes that amount out of your income. You still collect MORE

Pension Parachute

Business / Finance / Pension Parachute: A form of poison pill providing that in the event of a hostile takeover attempt, any excess pension plan assets can be used to benefit pension plan participants. This prevents the raiding firm from us MORE

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