Share this entry

Share this page

defined benefit plan

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

Definition of defined benefit plan in English:

noun

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.

Share this entry

Share this page

 

What do you find interesting about this word or phrase?

Comments that don't adhere to our Community Guidelines may be moderated or removed.

Get more from Oxford Dictionaries

Subscribe to remove adverts and access premium resources

Word of the day resilient
Pronunciation: rɪˈzɪlɪənt
adjective
able to recoil or spring back into shape…