Results for tag: "Cash Balance Plan"

A Cash Balance Plan is a type of pension plan that is designed to provide retirement benefits to employees. It is a defined benefit plan, meaning that the employer is responsible for providing a predetermined benefit to the employee upon retirement. The employer contributes a set amount to the plan each year, and the employee's benefit is based on the amount of money in the plan at the time of retirement. The employer also has the option to make additional contributions to the plan, which can increase the employee's benefit. The Cash Balance Plan market is a growing sector of the pension industry. It is attractive to employers because it provides a predictable and consistent benefit to employees, and it is attractive to employees because it offers a higher level of retirement security than other types of pension plans. Some companies in the Cash Balance Plan market include Fidelity Investments, Prudential Financial, and Vanguard Group. Show Less Read more