pension plan


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.

Nearby words

  1. pensile,
  2. pension,
  3. pension fund,
  4. pension mortgage,
  5. pension off,
  6. pensionary,
  7. pensioneer trustee,
  8. pensioner,
  9. pensive,
  10. pensively

Origin of pension plan

First recorded in 1955–60

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019