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• A retirement plan through which employers and/or employees contribute to a fund for which only the contribution is defined and benefits will cease when contributions are exhausted. The level of retirement annuity may rise or fall based on investment performance. The State ORP and the South Carolina Deferred Compensation Program’s 401(k) and 457 plans are defined contribution plans.

  South Carolina Retirement Systems - Cite This Source - This Definition
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  Cite Definition for Defined Contribution Plan

  American Psychological Association (APA)

  Defined Contribution Plan. (n.d.). SCRS Glossary. Retrieved March 21, 2023, from website: http://www.expertglossary.com/definition/defined-contribution-plan.

  Chicago Manual of Style (CMS)

  Defined Contribution Plan. www.retirement.sc.gov. SCRS Glossary. South Carolina Retirement Systems. http://www.expertglossary.com/definition/defined-contribution-plan (accessed: March 21, 2023).

  Modern Language Association (MLA)

  "Defined Contribution Plan." SCRS Glossary. South Carolina Retirement Systems. 21 March. 2023 http://www.expertglossary.com/definition/defined-contribution-plan.

• Browse Related Terms: 401(k) Savings Plan and 457 Savings Plan, Average Final Compensation (AFC), Defined Contribution Plan, Direct Rollover, IRC Section 401(a), Lump-Sum Distribution, Qualified Domestic Relations Order (QDRO), Qualified Plan, Rollover, Roth 401(k) Savings Plan, Single-Sum Distribution, Tax-Deferred

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