Voluntary plan

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.
References in periodicals archive ?
If they can't afford to offer a full benefit plan for dental," he says, "they can choose to offer a voluntary plan in a group-type setting.
Employers may opt out if they are able to show they have a voluntary plan that meets certain standards--and is comparable to the state program.
Fish and Wildlife Service declined to list the dunes sagebrush lizard under the Endangered Species Act, after the state comptroller's office finalized a voluntary plan meant to protect the lizard and conserve its habitat.
States have been concerned about how to "establish a voluntary plan consistent with ERISA preemption principals.
The legislation builds on President Obama's Stronger Together budget proposal and consists of a voluntary plan to support the development and expansion of new and existing community-driven strategies to increase diversity in schools.
The transaction, if and when it is completed, will be done in connection with the company's previously announced voluntary plan of dissolution that was approved by its stockholders at a special meeting of stockholders held on June 25, 2015.
Bus firms, however, are set to vigorously oppose the move, coming up with what they say is a cheaper, less risky voluntary plan while at the same time threatening legal action if the councils try to take their routes.
The Department of Energy's plan to impose regulations concerning the energy efficiency of set-top boxes would limit technological advances and "sabotage" a voluntary plan among device-makers and major multichannel video programming distributors, the Consumer Electronics Association and National Cable and Telecommunications Association said during a joint press conference.
The judge's order would require FDA to restart a process it began in 1977 but never completed and formally ended in December in advance of announcing the voluntary plan.
Global Banking News-July 20, 2011--Lockheed Martin Announces Voluntary Plan to Reduce Corporate Staff in Continuing Focus on Affordability(C)2011 ENPublishing - http://www.
The voluntary plan is for staffers who meet certain age and service requirements.
In addition, the legislation authorizes any employer, with the Secretary's approval, to establish a voluntary plan that is equivalent or better to opt out of participating in the insurance fund.

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