- unfunded plan
- noun
: a pension or retirement plan under which the employer is free to finance payments to retired workers on a pay-as-you-go basis — compare insured plan, trusteed plan
Useful english dictionary. 2012.
unfunded plan
Look at other dictionaries:
Plan termination — for ERISA defined benefit pension plans, is either the voluntary act of a pension plan sponsor who no longer believes that the costs of providing the pension outweighs its benefits, or the involuntary termination by the PBGC when the federal… … Wikipedia
Unfunded Pension Plan — An employer managed retirement plan that uses the employer s current income to fund pension payments as they become necessary. This is in contrast to an advance funded pension plan where an employer sets aside funds systematically and in advance… … Investment dictionary
Retirement plan — A retirement plan is an arrangement to provide people with an income, or pension, during retirement, when they are no longer earning a steady income from employment. Retirement plans may be set up by employers, insurance companies, the government … Wikipedia
trusteed plan — noun Etymology: trusteed from past participle of trustee (II) : a pension or retirement plan under which contributions are paid to a trustee who invests the funds and pays benefits to eligible employees compare unfunded plan … Useful english dictionary
unfunded pension plan — Provides for the employer to pay out amounts to retirees or beneficiaries as and when they are needed. There is no money put aside on a regular basis. Instead, it is taken out of current income. Bloomberg Financial Dictionary … Financial and business terms
Defined benefit pension plan — For the defined contribution pension plan, see Defined Contribution Pension Plan. In economics, a defined benefit pension plan is a major type of pension plan in which an employer promises a specified monthly benefit on retirement that is… … Wikipedia
Advanced Funded Pension Plan — A pension plan that is funded concurrently with the employee s accrued benefits, such that the funds are set aside well before the employee s retirement. Advanced funded pension plans are generally defined contribution plans, and are fully funded … Investment dictionary
employee welfare benefit plan — USA A plan, fund or program established or maintained by an employer or an employee organization or both. The purpose of an employee welfare benefit plan is to provide non retirement oriented benefits, through insurance or otherwise, such as: •… … Law dictionary
top hat plan — USA A plan that is unfunded and is maintained by an employer primarily to provide deferred compensation for a select group of management or highly compensated employees. Top hat plans are exempt from certain requirements of the Employee… … Law dictionary
excess benefit plan — USA A plan maintained by an employer solely to provide certain employees with benefits that exceed the limits that apply to employee pension benefit plans under Section 415 of the Internal Revenue Code. Unfunded excess benefit plans are exempt… … Law dictionary
