Examlex
Describe the changes wrought by technology and organizational structures of many organizations.
Defined Contribution
A type of retirement plan where the employer, employee, or both make contributions on a regular basis, but the final benefits received depend on the investment's performance.
Defined Benefit
A type of pension plan where the benefits that an employee will receive upon retirement are predefined based on factors like salary and tenure.
Pension Plan
A retirement plan that requires an employer to make contributions into a pool of funds set aside for an employee's future benefit.
Defined Benefit Plan
A pension plan that promises employees a fixed annual pension benefit at retirement, based on years of service and compensation levels.
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