noncontributory pension plan

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 ?
On the other hand, if the surviving spouse takes an annuity payout of the tax-free death benefits, less of each payment will be subject to income tax than post-retirement survivor benefits received under a noncontributory pension plan (i.
In addition, the company offers noncontributory pension plans and short-term disability and life insurance policies.
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.