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 ?
Among those, 76 percent have a savings and thrift plan, and 69 percent of workers with such a plan have a flat match structure.
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.
a) all Persons who were Participants in or Beneficiaries of the Regions Financial 401(k) Plan, the AmSouth Bancorp Thrift Plan and/or the Regions Financial Corporation 401(k) Plan at any time between January 1, 2007 and December 31, 2010 and whose Plan accounts were invested in Regions Stock at any time during this period (In-House Plans Regions Stock Settlement Subclass); and/or
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.
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.
In particular, the article focuses on a type of 401(k) plan referred to in NCS publications as a savings and thrift plan.
3 percent, greater than 1991 expenses, primarily because of increases in the Board's matching contribution to the thrift plan and in the wage base subject to social security and medicare taxes.
A savings and thrift plan is a plan under which employees may contribute a predetermined portion of their earnings (usually pretax) to an individual account and employers match all or part of those earnings.
The 1991 increase results from actions to further strengthen our supervision and regulation function, to fund the higher level of salaries needed to remain competitive with changes in the marketplace, and to meet a higher level of expenses for health insurance, Medicare, and the Board's Thrift Plan.