Sentences with phrase «defined benefit plans provide»

Also known as Pensions, Defined Benefit plans provide employees with income in retirement based on their salaries and years of service.

Defined benefit plans provide retirees with a guaranteed lifetime benefit, the annual value of which is typically based on number of years of service and average salary during the final years of their careers.

A defined benefit plan provides flat benefits at a specified amount per year of work.

Not exact matches

Trapani and Shindler have also discarded their old pension plan entirely since the «defined benefit plan» was set up to provide payouts only to employees who stayed until age 60, which just didn't meet the needs of the company's somewhat transient work force.

Both of our jobs currently have defined benefit pension plans in place, both of which we are vested in — I don't put a dollar figure on those but figure those will provide 3k to 4k in retirement income when we retire, depending upon when we retire and then when we choose to draw it.

· The cessation of accruals under the Qualified Plan and the continued IBM contributions under the tax - qualified defined contribution plan, the IBM 401 (k) Plus Plan, reflects IBM's desire to provide appropriate benefits for its employees, consistent with the changing needs of IBM's workforce and the changing nature of retirement benefits provided by IBM's current competitPlan and the continued IBM contributions under the tax - qualified defined contribution plan, the IBM 401 (k) Plus Plan, reflects IBM's desire to provide appropriate benefits for its employees, consistent with the changing needs of IBM's workforce and the changing nature of retirement benefits provided by IBM's current competitplan, the IBM 401 (k) Plus Plan, reflects IBM's desire to provide appropriate benefits for its employees, consistent with the changing needs of IBM's workforce and the changing nature of retirement benefits provided by IBM's current competitPlan, reflects IBM's desire to provide appropriate benefits for its employees, consistent with the changing needs of IBM's workforce and the changing nature of retirement benefits provided by IBM's current competition.

As described beginning on page 20 of this proxy statement, the employment agreements generally define the executive's position, specify a minimum base salary, and provide for participation in our annual and long - term incentive plans, as well as other benefits.

We provide investment advisory services to individuals, trusts, estates, defined benefit plans, institutions, foundations and endowments.

A narrow majority of defined - contribution - plan advisers and consultants say managed accounts provide less benefit to participants than target - date funds, according to a survey by Pacific Investment Management Co..

Not only do target benefit plans eliminate the security of a defined benefits plan, which is bad enough; they also remove any incentive for employers to provide them.

In an election year defined by angry populism, Clinton made an optimistic economic pitch in Detroit on Friday, presenting a wide - ranging plan for job growth that would provide incentives for corporations that invest in employees and strip tax benefits from companies that move jobs overseas.

To Leistenr — if you believe what you wrote, then you should realize that Defined Benefit plans are the proper way to provide security for our retired population.

Teacher pensions, much like other defined benefit plans, provide a more secure path to retirement, helping many teachers overcome the multitude of obstacles that prevent saving for retirement.

In addition, as Michael Podgursky recently noted in these pages (see «Fringe Benefits,» Check the Facts, Summer 2003), districts often provide generous defined - benefit plans to both current employees and retirees.

All five states provide traditional final average salary defined - benefit plans to teachers, with some differences.

Educators» defined - benefit plans typically provide retirees with guaranteed lifetime benefits, with the annual payout based on the number of years of service and annual salary in the final years of active employment.

Instead, they often establish a defined - contribution plan (DC), such as a 401 (k) or a 403 (b), which provide a more valuable benefit to the majority of teachers.

Teachers would then have the option of enrolling in a defined contribution or hybrid plan, which would provide them with more flexibility and, in all likelihood, a greater retirement benefit when they leave the profession.

To tackle that, states should consider giving new educators the option of a cash - balance plan, or a defined - contribution plan that would, for the majority of new educators, actually provide a more valuable retirement benefit.

An eligible employee may transfer from the Florida Retirement System to his or her accounts under the State Community College Optional Retirement Program a sum representing the present value of his or her service credit accrued under the defined benefit program of the Florida Retirement System for the period between his or her first eligible transfer date from the defined benefit plan to the optional retirement program and the actual date of such transfer as provided in s. 121.051 (2)(c) 7.

Provide all new hires at the City, except for sworn police officers, with a defined contribution plan modeled after a 401 (k) plan in place of a defined benefit pension plan.

Last week the New York State Teachers» Retirement System (NYSTRS), which provides a defined benefit pension plan to public school teachers and administrators outside of New York City, announced it was raising the required employer contribution rate * from 16.25 to 17.53 percent of payroll.

Our mission is to effectively protect defined benefit pension plans for public employees and to ensure that these plans continue to provide the foundation of a secure retirement.

At my talk yesterday, one actuary suggested turning the Social Security system into a defined benefit plan, and having it invest in stocks, which would provide cheap capital to corporations.

At retirement, the worker has the option of purchasing an annuity, which is similar to Social Security benefits and traditional defined benefit pension plans insofar as they provide a steady income stream for life.

Employer provided defined benefit plans (pensions) and health insurance during retirement are becoming more and more rare

In my personal case, I contribute to a defined benefit pension plan which is fully funded and which should provide a very solid income stream when I am ready to begin collecting (55 is the minimum retirement age).

Most teachers in the United States are covered by a public defined - benefit pension plan in which the employer agrees to provide a guaranteed payment at retirement.

Subject to certain limitations, a defined benefit plan will provide for an annual pension equal to a percentage of your highest earnings over a given period.

As a defined benefit pension plan, Individual Pension Plans operate with stricter investment rules and limitations than either RRSPs or TFSAs, and provide pre-determined retirement benefits.

Learn about the benefits of your VRS defined contribution plan from your local representative, who will be available to answer questions and provide information during the event.

BALTIMORE, MD - «The Defined Benefit Plan Continuum» provides guidelines and direction to organizations, advisors and consultants in effectively evaluating options and choosing a course that lowers their defined benefit plan costs while mitigating risks that might potentially affect their company's bottoDefined Benefit Plan Continuum» provides guidelines and direction to organizations, advisors and consultants in effectively evaluating options and choosing a course that lowers their defined benefit plan costs while mitigating risks that might potentially affect their company's bottoBenefit Plan Continuum» provides guidelines and direction to organizations, advisors and consultants in effectively evaluating options and choosing a course that lowers their defined benefit plan costs while mitigating risks that might potentially affect their company's bottom lPlan Continuum» provides guidelines and direction to organizations, advisors and consultants in effectively evaluating options and choosing a course that lowers their defined benefit plan costs while mitigating risks that might potentially affect their company's bottodefined benefit plan costs while mitigating risks that might potentially affect their company's bottobenefit plan costs while mitigating risks that might potentially affect their company's bottom lplan costs while mitigating risks that might potentially affect their company's bottom line.

That's why pensions are also known as «defined benefit» plans — they provided a set, defined benefit.

Defined benefit pension plans provide a right to a stream of income at retirement.

We are committed to designing and monitoring your defined benefit retirement plan so it provides maximum value for you.

Gone are the days of defined benefit plans (think old - school pension plans) that provided a guaranteed stream of lifetime income.

>> OLD - SCHOOL PENSIONS STILL ON DECLINE Consulting firm Towers Watson says the number of providing defined - benefit pensions continues to fall, although fewer companies moved away from such plans last year than in any other year over the past decade.

A defined - benefit plan is designed to provide you with a certain amount of income for retirement, based on such factors as your salary and length of service.

In this sense, the managed account approach «appears to be a worthy alternative to the target - date fund as it can provide a level of customization that the target - date fund can not by taking into account factors such as an investor's income, age, and access to a defined benefit plan.»

Defined contribution plans usually allow lump - sum benefit payments to alternate payees, but some also provide for a stream of payments over the payee's lifetime after retirement.

Defined benefit plans are the traditional pension plans provided by companies, while defined contribution plans include some of the more recent types of pension plans employers offer employees (e.g., Sec. 401 (k) and Sec. 403 (b) plans and employee stock ownership plans (ESOPsDefined benefit plans are the traditional pension plans provided by companies, while defined contribution plans include some of the more recent types of pension plans employers offer employees (e.g., Sec. 401 (k) and Sec. 403 (b) plans and employee stock ownership plans (ESOPsdefined contribution plans include some of the more recent types of pension plans employers offer employees (e.g., Sec. 401 (k) and Sec. 403 (b) plans and employee stock ownership plans (ESOPs)-RRB-.

ERISA Section 205 and IRC Secs. 401 (a)(11) and 417 require that all retirement plans (both defined benefit and defined contribution plans) provide benefits in a manner that will give the participant's spouse a survivor benefit.

A CPA can read the plan's summary plan description and other plan documents to determine the retirement benefits provided and whether the plan is a defined benefit plan or a defined contribution plan.

The option would also allow defined contribution plans to upgrade to shared risk, providing a higher level of assurance on what benefits will be at retirement.

In July 2012, the province introduced new «grow - in» rules that provide a pension bridge to workers who have a defined benefit (DB) pension plan and are fired without cause.

With the decline of defined benefit (DB) pension plans, there has been some renewed interest in providing other annuity income options to American workers, but demand for annuities has remained low in the United States.

According to the firm, the risk - based funds are designed «to both complement the TDF lineup, as well as to provide a suitable investment alternative for Catholic defined benefit plans.»

Sun Life Investment Management is a group of companies that provides investment solutions for defined benefit pension plans, insurance companies and other institutional investors across North America.

As one of Canada's largest defined benefit pension plans, we are dedicated to providing retirement security to more than 339,000 healthcare workers in Ontario.

Only 33 percent of all private sector workers currently have a defined benefit plan that provides retirement benefits beyond Social Security (Munnell, Haverstick, and Soto 2007).