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Voluntary Plan

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Voluntary plan
A pension plan supported partially by the employee by pension contributions deducted from each paycheck.

Voluntary Deductible Employee Contribution Plan
An optional, individual plan in which employees join a pension and pay the premiums by having their employer deduct a portion of their paycheck every month or pay period. The employer does not make any contributions to the plan and, as a result, employees may take the plan with them if they change jobs.


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The White House hopes the voluntary plan -- drawn up by groups representing insurance firms, hospitals, doctors, pharmaceutical firms and a labor union -- could eventually save US families as much as 2,500 dollars a year.
The White House hopes the voluntary plan -- drawn up by groups representing insurance firms, hospitals, doctors, pharmaceutical firms and a labor union -- could eventually save US families as much as 2,500 dollars a year.
That's the time period for enrollment, underwriting, issue of group master contracts and certificates, billing set-up and payroll deduction starts for voluntary plans.
 
 
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