Pension Plan Funding: Individual Contract Pension Plan
Retirement plan for an individual based on a single contract with a benefit based on current earnings, as if they will remain static until normal retirement age. As the earnings of the plan participant increase, additional contracts are purchased (with an increase in the contributions to the plan). The amount of retirement benefits depends on the benefit formula used and the investment experience of the company underwriting the plan.
Popular Insurance Terms
Purchasing bond investments that mature at different time intervals. ...
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No limitation under a contributory pension plan of an employee's right to receive vested benefits, regardless of whether or not the employer withdraws contributions. ...
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