Is A Pension Plan ERISA?

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   Steve Savant

   Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona

   The Employee Retirement Income Security Act of 1974 (ERISA) offers defined contribution plans as well as defined benefit plans or pensions. Pensions must offer an employee vesting schedule and a level of benefits based on years of service. But the new trend in ERISA retirement plans have shown employers moving to defined contribution plans, to escape the obligation of short falls that can occur in defined benefit plans.

   Answered on September 12, 2013

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