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What Are the Features of a Defined Benefit Plan? A defined benefit plan guarantees retirement benefits for an employee. Some of the features include: Employer sponsored: The employer funds and manages ...

A defined benefit plan is a retirement option where the benefits paid on retirement are calculated using a fixed formula. The formula is typically based on the employee’s salary history and the number ...

The SECURE Act 2.0, enacted in December 2022, made several updates to what must be included in annual funding notices (“AFN”) issued by defined benefit pension plans. For large plans (as defined below ...

The Inflation Reduction Act of 2022 (“Act”) imposed a 15% corporate minimum tax on the “adjusted financial statement income” (“AFSI”) of taxpayers with more than $1 billion of AFSI, effective for tax ...

Pensions have almost disappeared from most companies; instead, many companies now utilize 401(k)s. But it hasn't always been that way. As a tactic to retain workers, companies often provide their ...

This column has been modified to correct the amount of the required contribution for Janet's DB plan. Minimizing taxes isn’t always the best idea. Rich found this out the hard way. You may have heard ...

Labor Day 1974 came during a tumultous time in American politics, arriving just a few weeks after President Richard Nixon resigned amid the Watergate scandal. But lawmakers at the time were able to ...

Chancellor Rachel Reeves is expected to unveil new plans to free up defined benefit (DB) pension scheme surpluses in a speech this week. Sky News and the Financial Times have both reported over the ...

In 1974, Congress transformed the American retirement system. By a unanimous vote in the Senate and a margin of 407-2 in the House, it passed the Employee Retirement Income Security Act. The goal was ...