defined benefit to defined contribution conversion
A defined benefit to defined contribution conversion refers to the transition of a retirement plan where the employer guarantees a specific retirement benefit to one where the employer contributes a fixed amount to the employee's retirement account, providing more control and flexibility for the employee in managing their own investment and retirement savings.
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Related Concepts (1)
Similar Concepts
- benefit estimation
- benefit levels
- benefits enrollment
- conversion funnel
- conversion of currency
- convertible bonds
- data conversion
- defined benefit pension plans
- defined benefit pensions
- defined contribution pension plans
- defined contribution pensions
- direct benefits
- means-tested benefits
- retirement contributions deductions
- type conversion