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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. 2015.
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