defined-benefit

British  

adjective

1. Also called: final-salary.   DB.  denoting an occupational pension scheme that guarantees a specified payout, usually based on an employee's final salary and years of service

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Example Sentences

Many still draw defined-benefit or generous public pensions, a rare anchor of income stability in a credit-stressed economy.

From Barron's

At the same time, following World War II, employers began to expand retirement benefits for their full-time employees, providing them with defined-benefit pensions and other important benefits for old age.

From Salon

A pension, a defined-benefit plan, relies on employer rather than employee contributions.

From Salon

And if Boeing were to restore the defined-benefit pension, it would be pioneering a reversal of a longtime trend in corporate America to get rid of such plans.

From Seattle Times

Striking members of the United Automobile Workers union made waves this year when the union’s leaders demanded the reopening of defined-benefit pension plans for workers hired after late 2007.

From New York Times