noncontributory pension plan

(redirected from Noncontributory Pension Plans)

Noncontributory pension plan

A pension plan that is fully paid for by the employer, requiring no employee contributions.

Noncontributory Pension Plan

A pension where the pensioner (or employee) makes no contributions. Instead, the employer makes all contributions on the pensioner's behalf. This contrasts with most pension plans, where both employee and employer make contributions. See also: Matching Contribution, Contributory Pension Plan.

noncontributory pension plan

A pension plan in which the participating employees are not required to support the plan with contributions. Compare contributory pension plan.
References in periodicals archive ?
In addition, the company offers noncontributory pension plans and short-term disability and life insurance policies.
Latimer, "Most pension plans operating in 1929 seem to have been framed with the idea of relating the benefit to the employee's standard of living at the time of retirement."(19) Indeed, half of the noncontributory pension plans operating in that year specified average pay during the last 10 years of service as the basis for the benefit calculation.
By the end of World War II, corporate profits began to rise, and a National Industrial Conference Board survey showed a marked shift back to noncontributory pension plans." This trend continued into the 1950's.