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A pension plan by which an employer or its agent maintains a separate account for each participating employee. Benefits at retirement depend upon the amount contributed and the investment performance of the plan's assets, which are selected by the employee or an independent manager.
- Browse Related Terms: Cafeteria plan, Cash balance plan, Defined Benefit Pension Plan, Defined benefit plan, Defined Contribution Pension Plan, Defined Contribution Plan, Employee Retirement Income Security Act (ERISA), Employer sponsored retirement plan, Federal Insurance Contributions Act (FICA), Flexible spending account, Integrated pension plan, Nondiscrimination rule, Pension, Pension Benefit Guaranty Corporation (PBGC), Plan participant, Portable benefits, Qualified retirement plan, Retirement Accounts, Self-directed retirement plan, Social Security, Vesting, Withholding