​​Defined Benefit Pension Plans (Legacy) – 2457

Defined Benefit Pension Plans

Known simply as “pension plans,” the benefits are “defined” because employees and employers know the formula for calculating retirement benefits ahead of time. Unlike other retirement funds for which payout amounts are dependent on investment returns, a Defined Benefit Pension Plan helps employees know what to expect and choose a payout option. The employer is responsible for making investment decisions and managing the plan’s investments, thereby assuming all investment and planning risks. Selecting the right payment option is important because it can affect the benefit amount received. We’re available to review and discuss your benefit options, an important decision that will affect your retirement. Contact us today to schedule a consultation.