when an enterprise introduces a defined ben
le under an existing defined benefit plan.
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Defined-Benefit vs. Defined-Contribution Plan: An Overview
Employer-sponsored retirement plans are divided into two major categories: defined-benefit plans and defined-contribution plans. As the names imply, a defined-benefit plan—also commonly known as a traditional pension plan—provides a specified payment amount in retirement. A defined-contribution plan allows employees and employers (if they choose) to contribute and invest funds over time to save for retirement.
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