money purchase pension plan
- money purchase pension plan
-
USA
A defined contribution plan that provides for an individual account for each participant and for fixed employer contributions. Benefits under a money purchase plan are generally distributed as annuity payments over the remainder of the participant's lifetime. A plan may provide for additional forms of payment.
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
Look at other dictionaries:
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