Definition of defined benefit plan in English:

defined benefit plan

Syllabification: de·fined ben·e·fit plan
(also defined benefit pension plan)


A company pension plan in which an employee’s pension payments are calculated according to length of service and the salary they earned at the time of retirement.

Get more from Oxford Dictionaries

Subscribe to remove adverts and access premium resources

Word of the day apposite
Pronunciation: ˈapəzɪt
apt in the circumstances or relation to something