A pension plan is a pension plan that requires the employer to contribute to a general fund set aside for the employee’s future benefits.
There are two main types of pension plans: a defined benefit plan and a defined contribution plan.
A defined benefit plan guarantees a fixed monthly payment for life (or a lump sum upon retirement).
A defined contribution plan creates an investment account that grows throughout the employee’s years of service. The balance is available to the employee upon retirement.
Pension funds are primarily funded by the employer, while 401k plans are primarily funded by the employee.
The Government Pension Fund of Norway consists of two separate Norwegian investment funds: the first is the Global Government Pension Fund (GPFG), also known as the Oil Fund, and the second is the Government Pension Fund of Norway (GPFN). .
Keogh plans are tax-deferred pension plans - either defined benefit or defined contribution - used for retirement purposes by either self-employed individuals or unincorporated businesses, while independent contractors cannot use the Keogh plan.
Liability oriented investments are typically used in defined benefit pension plans or other fixed income plans to cover current and future liabilities through the acquisition of assets.
The Teachers’ Retirement System (TRS) is a network of state-level organizations that primarily administer pensions and other retirement plans for teachers.
The Social Security and Pension Plans Disclosure Act (WPPDA) was a piece of US legislation in effect from the 1950s to the 1970s that regulated employee benefits and retirement plans.
Pension plan withdrawal credit refers to the portion of an employee’s pension assets in a qualified pension plan that the employee is entitled to withdraw upon termination of employment.