InstituteOverview (Level 1)Associate Benefits & CompensationRetirement BenefitsRetirement BenefitsHuman ResourcesEnglishAnalysisFocus AreaUSA
Retirement benefits
['Retirement Benefits']

A retirement plan is an employee benefit plan established or maintained by an employer, an employee organization (such as a union), or both, that provides retirement income or defers income until termination of covered employment or beyond. A number of retirement plans are available, including the 401(k) plan and the traditional pension plan, known as a defined benefit plan.