Integrated pension plan

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Integrated Pension Plan

An employer-based pension in which the employer counts the employee's social security benefits as part of the pension, and therefore reduces the pension's benefits by some or all of the employee's social security check. Since 1988, however, employers have been required to pay at least 50% of the pension's defined benefit.

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 from both sources, but you receive less from your employer than you would if your plan wasn't integrated.

There is some protection, though. By law, an employer using an integrated pension plan can't reduce your private pension by more than 50%.

References in periodicals archive ?
Contract Awarded for Deliver its integrated pensions IT software solution.
The scope of the contract is to implement and support an integrated pensions administration, payroll and digital services software solution for the Agency, which administers pension schemes for the National Health Service, teachers, police and firefighters in Scotland.
It provides an individually tailored pension scheme management and administration service, as well as integrated pensions solutions to the SME market, with a range of standard options which include scheme accounting, member communications, benefits payments and payroll, trustee training and company secretarial duties.
1) Integration of pension income with Social Security income likely reduces benefits for many retirees, making research on income from integrated pensions critical.
Furthermore, integrated pensions are estimated to have higher replacement rates than those of nonintegrated pension plans at high earnings levels and lower rates at low earnings levels.
20) Of those with integrated pensions, 502 have excess-rate provisions, while 387 have offset provisions.
Separate weighted regressions are run for-the samples of workers with nonintegrated and integrated pensions wherein the dependent variable is the replacement rate or annual benefits.
67 percentage point in the replacement rate for all integrated pensions.
Integrated pensions have higher replacement rates only at the lowest tenure level (10 years).
Bender, "Characteristics of Individuals with Integrated Pensions," Social Security Bulletin, vol.
5) See Bender, "Individuals with Integrated Pensions.
14) See Slusher, "Pension Integration," and Bender, "Individuals with Integrated Pensions.
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