Defined benefit plans guarantee a fixed payout, usually based on salary and years of service. Employers bear the investment risks and are responsible for funding these plans. Defined benefit plans ...

A pension is a retirement account that an employer maintains to give you a fixed payout when you retire. It's a kind of defined benefit plan. Your payout typically depends on how long you worked ...

A defined benefit plan is a retirement account for which your employer does all the work, including ponying up the money and deciding where to invest it. It promises you a set payout when you ...