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A defined benefit plan promises workers a guaranteed retirement payout, often in the form of a monthly income for life. A clear guide to how defined benefit plans work, what …
What Is a Defined Benefit Plan? – Simple and Easy Explanation Read More
A deferred vested participant is someone who has earned a guaranteed pension benefit but has left the employer before retirement. A deferred vested participant is an employee who worked long …
What is a Deferred Vested Participant? – Simple and Easy Explanation Read More
A quick guide to understand when the PBGC officially takes over a terminated single-employer pension plan. The Date of Trusteeship is an important concept in the world of pensions, especially …
What Is the Date of Trusteeship? – Simple and Easy Explanation Read More
A clear guide to understanding the Date of Plan Termination in pension plans, including how it works and why it matters for your retirement benefits. The Date of Plan Termination …
What is the Date of Plan Termination (DOPT)? – Simple and Easy Explanation Read More
Credited service represents the years of work that count toward a worker’s pension benefit. It typically includes the time an employee participates in an employer’s pension plan. Credited service — …
What is Credited Service? – Simple and Easy Explanation Read More
A covered plan is a defined benefit pension plan protected by the Pension Benefit Guaranty Corporation (PBGC). Learn how PBGC coverage works and why it matters. A covered plan is …
What Is a Covered Plan? – Simple and Easy Explanation Read More
A Contribution Base Unit (CBU) is the specific measure of employee work activity used to determine how much an employer must contribute to a multiemployer pension plan. Meta description: Learn …
What is a Contribution Base Unit (CBU)? – Simple and Easy Explanation Read More
A church plan is a retirement plan established and maintained by a church or a group of churches for their employees, and it is generally exempt from federal tax rules …
What Is a Church Plan? – Simple and Easy Explanation Read More
A Certain-and-Continuous annuity guarantees monthly income for your lifetime or for a fixed period, with remaining payments going to your beneficiary. A Certain-and-Continuous (C&C) Annuity is a retirement payout option …
What is a Certain-and-Continuous (C&C) Annuity? – Simple and Easy Explanation Read More
Social Security tax is a payroll tax that funds benefits for retirees, disabled individuals, and their families. Social Security tax is one of the most familiar taxes for workers in …
What Is Social Security Tax? – Simple and Easy Explanation Read More