What is defined contribution?

Pension System - Benefits
... Retirement plans may be classified as defined benefit or defined contribution according to how the benefits are determined ... A defined benefit plan guarantees a certain payout at retirement, according to a fixed formula which usually depends on the member's salary and the number of ... A defined contribution plan will provide a payout at retirement that is dependent upon the amount of money contributed and the performance of the ...

Pensions Crisis - United States - Shift From Defined Benefit To Defined Contribution Pensions
... in 2009 that there is a long-term trend of pensions switching from defined benefit (DB) (i.e ... a lifetime annuity typically based on years of service and final salary) to defined contribution (DC) (e.g ... The percentage of workers covered by a traditional defined benefit (DB) pension plan declined steadily from 38% in 1980 to 20% in 2008 ...

Cash Balance Plan - Types of Pensions
... The ubiquitous 401(k) plan is an example of a defined contribution plan because the Internal Revenue Code §414(i) states hat the term defined contribution plan means any plan that provides retirement ... in the case of a plan that is not a defined benefit plan, means the balance the employee’s account ... On the other hand for defined benefit plans, Section §411(a)(7)(i) states that “accrued benefit” means “the employee’s annual benefit” as it is “determined under the plan … expressed in the ...

Rick Lindquist - Health Benefits Industry
... Lindquist joined the Zane Benefits as its 13th employee to distribute defined contribution portable health insurance policies through employers ... Zane Benefits offers defined contribution health benefits to small employers through a Software-As-A-Service (SAAS) product called ZaneHRA ... employers, brokers, and payroll suppliers to offer employees defined contribution health benefits through their own private health insurance exchanges ...