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defined-contribution pension plan

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defined-contribution pension plan
A pension plan in which an employer's periodic payments into the plan, rather than eventual retirement benefits to employees, are specified. For example, a defined-contribution pension plan may require an employer to contribute 5% of its employees' gross pay into a fund with contributions earmarked for each employee upon retirement.
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It also upheld the creation of a defined-contribution pension plan, similar to the 401(k) plans that have gained favor with private employers, for PERS-covered employees hired after August 2003.
PERS reformers won by The Register-Guard (Eugene, OR)
``By moving to defined-contribution pension plans like private workers (have), governmental agencies can save money, increase their budgeting predictability and not incur any new unfunded liabilities.
STATE PENSION FACE-OFF ASSEMBLYMAN AIMS TO KO CURRENT CALPERS PLAN, ... by Daily News (Los Angeles, CA)
Even as more companies offer defined-contribution pension plans, nearly a third of the Fortune 100 companies now offer employees so-called "hybrid" plans, an increase from 22 hybrids for the same group in 1998, according to a study by consulting firm Watson Wyatt Worldwide, Bethesda, Md.
Hybrid Pension Plans Gain Among Large U.S. Companies by Best's Review
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