Defined Benefit Pension Plans
Help your employees secure their retirement goals.
In a Defined Benefit Pension Plan (DB), the retirement income is set in advance according to a specific formula. The formula may vary by employer and considers different factors, but is typically based on an employee’s number of years of service as well as an average of highest annual earnings. The pension fund includes the employer and member contributions (if members are required to contribute). The employer mainly assumes the risks related to funding the plan.
To learn more about Defined Benefit Pension Plans, we invite you to reach out to us.