defined benefit pension plan
21Pension Benefit Obligation - PBO — An accounting term used to describe the amount of money a company must pay into a defined benefit pension plan to satisfy all pension entitlements that have been earned by employees up to that date. The pension benefit obligation (PBO) is… …
22defined benefit plan — A type of occupational pension in which the pension provision is defined (e.g., a fixed monthly amount for each year of service) and guaranteed. The employer has to make up the difference if the scheme fails to perform as well as expected.… …
23pension reversion — Termination of an overfunded defined benefit pension plan and replacement of it with a life insurance company sponsored fixed annuity plan. Bloomberg Financial Dictionary …
24Pension Benefit Guaranty Corporation — (United States) Agency overview Formed September 2, 1974 …
25Corporate Pension Plan — A formal arrangement between a company and its employees or the employees union that provides funding for the employees retirement. This pool of funds can be financed in several ways and will eventually be used to make periodic payments to… …
26Plan termination — for ERISA defined benefit pension plans, is either the voluntary act of a pension plan sponsor who no longer believes that the costs of providing the pension outweighs its benefits, or the involuntary termination by the PBGC when the federal… …
27Integrated Pension Plan — A pension plan that is tied to an individual s Social Security payments to determine the total benefit that the plan participant should receive. The actual amount sent to the recipient in a defined benefit integrated pension may be reduced by a… …
28Overfunded Pension Plan — A company retirement plan that has more assets than liabilities. In other words, there is a surplus amount of money needed to cover current and future retirements. Although the surplus can legally be recorded as company income, it cannot be paid… …
29Mexico Pension Plan — Mexico reformed its pension system in 1997, transforming it from a pay as you go (PAYG), defined benefit (DB) scheme to a fully funded, private and mandatory defined contribution (DC) scheme. The reform was modeled after the pension reforms in… …
30Plan Participant — A plan participant either contributes into a pension plan or is in a position to receive benefit payments from the plan. It includes a retired person receiving distributions from a pension plan, or a beneficiary or dependent named by a… …
