pension plan

American  

noun

1. 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.

2. retirement plan.

---

Etymology

Origin of pension plan

First recorded in 1955–60

Example Sentences

The principal onus falls on the SEC, which oversees the stock market, but the order also mentions the Federal Trade Commission, which oversees antitrust issues, and the Labor Department, which oversees pension plans.

From The Wall Street Journal

However, the share of people with access to a pension plan has fallen to less than 25% and continues to decline, Corebridge Financial reports.

From MarketWatch

Each letter bears the same heading – 'payment due to your pension plan' – and they span a period from 2020 to 2023.

From BBC

Investors in Blue Owl’s latest $7 billion digital infrastructure fund include the state pension plans of Pennsylvania and New York.

From The Wall Street Journal

The company said its earnings benefited from an unscheduled refund of contributions from its pension plan that lowered personnel costs and boosted its bottom line by about 50 million euros.

From The Wall Street Journal