Sentences with phrase «receiving traditional defined benefit pension plans»
People are living longer, and fewer of them are receiving traditional defined benefit pension plans from their employers.»
https://www.newyorklife.com/ Not exact matches
Usually this means either a defined contribution plan [such as a 401 (k) or 403 (b) plan] or a defined benefit plan (a traditional fixed «pension» that a government employee might receive).
On one side, some reformers have favored scrapping traditional teacher pension plans (defined benefit, or DB, of the «final average salary» type) in favor of the IRA - type plans received by most private - sector professionals (defined contribution, DC).