Deferred Profit Sharing Plan


Also found in: Acronyms.

Deferred Profit Sharing Plan

A pension plan in which an employer distributes a set percentage of the company's profits into accounts for the employees participating in the plan. The DPSP operates like most other pensions and retirement plans, but instead of placing a set dollar amount into the accounts, it places profits. The idea behind a DPSP is to encourage employees to work for the company's profitability. Employees do not pay taxes on their DPSPs until they begin to make withdrawals after retirement. DPSPs are available in Canada and must be registered with the Canada Revenue Agency.
References in periodicals archive ?
The primary purposes of the Bid are purchases for cancellation, as well as purchases to fund our stock-based compensation awards or programs and and/or our obligations to our deferred profit sharing plans.
The pension adjustment ensures that taxpayers whose employers make contributions to registered pension plans or deferred profit sharing plans on behalf of employees cannot double up their retirement savings.
Deferral Income Plans include Registered Retirement Savings Plans, Deferred Profit Sharing Plans and Registered Pension Plans.
The primary purposes of the Bid are purchases for cancellation to offset dilution resulting from the exercise of stock options, as well as purchases to fund our restricted stock unit program and/or our obligations to our deferred profit sharing plans.
to fund our restricted stock awards, the redemption of restricted stock units and our deferred profit sharing plans.
UN) and are eligible for registered retirement savings plans (RRSP's), registered retirement income funds (RRIF's) and deferred profit sharing plans (DPSP's).
Mullen qualifies as a mutual fund trust under the Act and as such, the Mullen Trust Units ("Units") are qualified investments for registered retirement savings plans ("RRSPs"), registered retirement income funds ("RRIFs"), registered education savings plans ("RESPs"), and deferred profit sharing plans ("DPSPs"), all as defined in the Act.
9 million Magna Class A Subordinate Voting Shares we purchased for cancellation pursuant to a substantial issuer bid which was completed on September 25, 2007; and (b) the issuance from treasury from time to time of Class A Subordinate Voting Shares on exercise of Magna stock options; and - to fund our restricted stock awards, the redemption of restricted stock units and our deferred profit sharing plans.
Mullen qualifies as a mutual fund trust under the Act and as such, Units are qualified investments for registered retirement savings plans ("RRSPs"), registered retirement income funds ("RRIFs"), registered education savings plans ("RESPs"), and deferred profit sharing plans ("DPSPs"), all as defined in the Act.