Thrift plan

Thrift plan

A defined contribution plan in which an employee contributes, usually on a before-tax basis, toward the ultimate benefits that will be provided. The employer usually agrees to match all or a portion of the employee's contributions.

Thrift Plan

A retirement account in which a worker and an employer each make contributions up to a certain limit throughout the working life of the employee, usually on a before-tax basis. Under a thrift plan, a worker places a portion of his/her pre-tax income into an account and allows it to be invested. Taxation is deferred until withdrawal from the account, generally after retirement. It is important to note, however, that unlike some retirement plans, the employer makes a defined contribution to the account as well. Thrift plans are employee benefits, and workers must have a sponsoring employer to take advantage of one. See also: 401(k).
References in periodicals archive ?
The LOS ANGELES COUNTY METROPOLITAN TRANSPORTATION AUTHORITY (MTA) and the PUBLIC TRANSPORTATION SERVICES CORPORATION (PTSC) each sponsor a 401(k) Defined contribution Thrift Plan, a 457 Deferred Compensation Plan, and a Roth IRA (collectively referred to as the %Plans%) to provide enhanced retirement benefits to their employees by allowing them to save money on a pre-tax basis.
9 million to former and current participants of the MassMutual Thrift Plan and the Massachusetts Mutual Life Insurance Co.
Among those, 76 percent have a savings and thrift plan, and 69 percent of workers with such a plan have a flat match structure.
Thrift Plan, and investigating and then deciding to unitize its company stock funds.
Unlike Roth 401(k) contributions (see Chapter 20), thrift plan contributions are not subject to the dollar limit on elective deferrals ($16,500 in 2009).
Only by opening a new Internet browser and typing the Thrift Savings Plan's Web site into the address field can a participant be sure of accessing the authentic thrift plan Web site.
Maybe she should transfer her money to a 401(k) sponsored by her new employer, or to the Federal Thrift Plan, or just leave it behind with her old employer.
The County Of Los Angeles Board Of Supervisors Has Authorized The Savings Plan And Horizons Plan Administrative Committees (the PACs ) To Administer The County Of Los Angeles Savings Plan And Deferred Compensation And Thrift Plan, Also Known As The Horizons Plan.
You can contribute from 1 percent to 100 percent of your special pays, incentives and bonuses into the thrift plan," Emswiler said.
Some have argued that the federal government has already shown itself capable of investing in equities without political interference, and I have no doubt that the investments of the $60 billion federal thrift plan and the $6 billion Federal Reserve retirement plan have been made independently.
Participants and beneficiaries of the MassMutual Thrift Plan have filed a lawsuit in federal court against MassMutual.