- defined benefit plan
- A pension or other employee benefit plan that provides specified amounts of benefits to eligible participants. The specified amounts of benefits are usually determined based upon age, years of service, and/or levels of compensation. American Banker Glossary————A pension plan obliging the sponsor to make specified dollar payments to qualifying employees at retirement. The pension obligations are effectively the debt obligation of the plan sponsor ( plan sponsors). Bloomberg Financial DictionaryRelated: defined contribution plan
Financial and business terms. 2012.