defined contribution pension plan definition
A retirement plan that does not specify the amount that a retiree will receive. Rather, the employer's obligation is to contribute a specific amount into a fund to be used for payments to retirees.
A retirement plan that does not specify the amount that a retiree will receive. Rather, the employer's obligation is to contribute a specific amount into a fund to be used for payments to retirees.
Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com. Read more about the author.