This is what a
defined-contribution pension plan resolves.
Replace the current annual tax-deferred saving limits for
defined-contribution pension plan participants and RRSP savers with more generous regimes: either index unused contribution room for inflation or, more farsightedly, establish an inflation-indexed lifetime tax-deferred savings limit that will permit all savers to achieve pension wealth equal to that of participants in relatively comprehensive defined-benefit plans.
In 2011, Canada Post tried to force CUPW members into accepting a
defined-contribution pension plan for new hires.
In addition, the authors indicate that workers were more likely to reenter the workforce after retirement if they were younger, were in better health, or had a
defined-contribution pension plan.
The Roth 401(k) is a feature that can be added to a new or existing company-sponsored
defined-contribution pension plan, including traditional 401(k)s, safe-harbor 401(k)s, and 403(b) tax-sheltered annuities.
The losses resulted from a change in Japanese accounting standards regarding fixed assets and Nissan's introduction of a
defined-contribution pension plan, it said.
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.
The award adopts the new enhanced
defined-contribution pension plan for new employees and provides current employees the choice--the same as for some other work groups and management--to move into the same enhanced defined-contribution plan or remain in their existing defined-benefit plan.
The airline and the pilots' union previously agreed to a new,
defined-contribution pension plan that will replace the old defined-benefits plan.
This structure mandates that every (formal sector) worker pay 10 percent of earnings into a privately administered
defined-contribution pension plan.
The award adopts the new enhanced
defined-contribution pension plan for new employees and provides current employees the choice -- the same as for some other work groups and management -- to move into the same enhanced defined-contribution plan or remain in their existing defined-benefit plan.
Creating personal savings accounts or private accounts within the Social Security system would change it from a pay-as-you-go social insurance program to a hybrid with a
defined-contribution pension plan component.