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Politics : A Real American President: Donald Trump
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To: Woody_Nickels who wrote (389181)3/25/2023 5:09:56 AM
From: bruwin1 Recommendation

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Honey_Bee

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In my part of the world, Many Years ago, the majority of companies applied "DEFINED BENEFIT" Pensions.

Today they apply "DEFINED CONTRIBUTION" Pensions.

DEFINED BENEFIT "Drains", or puts ASIDE, a large portion of a company's Revenue in abeyance in order to have the Funds available for its employees when they retire and they then received a fixed rate based as a percentage of the average of their last 3 years annual salary. This was all calculated by their Actuaries.

DEFINED CONTRIBUTION was based on the company contributing a fixed monthly amount to an employee's Retirement Fund account, and the employee would, likewise, contribute a similar amount. In that way a company did not have to set aside a large portion of its Revenue for future retirement purposes, thereby freeing up that "Pension" Revenue for the company to Invest, etc....
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