Defined benefits

Adjective

Word Frequency: 0.8

Definitions

1.AdjectiveDescribing a pension scheme in which an employer agrees to provide a pension payment or lump sum on retirement that is predetermined based on the employee's length of service, earnings history and age.

Synonyms

final salary pensionary debentured first death beneficed tied second death anti-detriment bonitary private whole-life tax-deferred

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