A defined benefit plan is a retirement option where the benefits paid on retirement are calculated using a fixed formula. The formula is typically based on the employee’s salary history and the number ...

What Are the Features of a Defined Benefit Plan? A defined benefit plan guarantees retirement benefits for an employee. Some of the features include: Employer sponsored: The employer funds and manages ...

Defined benefit plans are often referred to as pensions. For employees who meet certain criteria in the workplace, these accounts typically pay out predetermined benefits in retirement. Here's a look ...