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pension plan

noun
1.
a systematic plan created and maintained, as by a corporation, to make regular payments of benefits to retired or disabled employees, either on a contributory or a noncontributory basis.
2.
retirement plan (def 1).
Origin
1955-1960
1955-60
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples from the web for pension plan
  • If you are the recipient of a defined benefit pension plan, your organization had to make similar adjustments for you.
  • Employers contribute less to them, so they are often regarded as an inferior pension plan.
  • The choice of funds within the pension plan is therefore extremely important.
  • Their pension plan can't be equaled, that is the problem.
  • United will keep deferring payments to pension plan.

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