Simple Browser : Welcome guest : log in
Home |  Graph |  ]  KB:  Language:   

Formal Language: 



KB Term: 

  PensionPlan

Sigma KEE - PensionPlan
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
pension plan
A qualified retirement plan set up by a corporation, labor union, government, or other organization for its employees. Examples include profit-sharing plans, stock bonus and employee stock ownership plans, thrift plans, target benefit plans, money purchase plans, and defined benefit plans.
Relationships      
Parents financial account A formal banking, brokerage, or business relationship established to provide for regular services, dealings, and other financial transactions.
Children defined contribution planA company retirement plan, such as a 401(k) or 403(b), in which the employee elects to defer some amount of his/her salary into the plan and bears the investment risk.
 individual retirement accountA tax-deferred retirement account for an individual that permits individuals to set aside up to $2,000 per year, with earnings tax-deferred until withdrawals begin at age 59 1/2 or later (or earlier, with a 10% penalty). Only those who do not participate in a pension plan at work or who do participate and meet certain income guidelines can make deductible contributions to an IRA. All others can make contributions to an IRA on a non-deductible basis. Such contributions qualify as a deduction against income earned in that year and interest accumulates tax-deferred until the funds are withdrawn.
 profit sharing planAn arrangement in which an employer shares its profits with its employees. The compensation can be stocks, bonds or cash, and can be immediate or deferred until retirement.
 SavingsPlan_408KA simpler alternative to a 401(k) plan available only to companies with 25 or fewer employees, which gives employees the opportunity to make contributions to their SEP accounts with pre-tax dollars and reduce their current year's net income.


Show full definition (without tree view)
Show full definition (with tree view)

Show without tree


Sigma web home      Suggested Upper Merged Ontology (SUMO) web home
Sigma version 3.0 is open source software produced by Articulate Software and its partners