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

It was a miss, and the adjusted figure excluded $825 million in charges, mainly due to pension plan changes.

From Barron's

During these negotiations, the performers union, which represents roughly 160,000 members, is expected to focus on the issues of AI, streaming residuals and health/pension plans.

From Los Angeles Times

For decades, retirement income was made up of multiple sources, such as workplace pension plans, Social Security benefits and individual retirement savings.

From MarketWatch

“Survivor benefits can still work in some cases, but it depends on the pension plan’s rules and how the leveling option was set up,” Um said.

From MarketWatch

Last year, pension plans, endowments and other clients put more money into hedge funds than in any year since 2007, according to research firm HFR.

From The Wall Street Journal