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pension plan

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noun
a systematic plan created and maintained, as by a corporation, to make regular payments of benefits to retired or disabled employees, either on a contributory or a noncontributory basis.
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“Was” is used for the indicative past tense of “to be,” and “were” is only used for the subjunctive past tense.

Origin of pension plan

First recorded in 1955–60
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2022

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