Changes in the HUD Definition of âHomelessâ Publications | January 18, 2012 HUD has issued the final regulation to implement changes to the definition of homelessness contained in the Homeless Emergency Assistance and Rapid Transition to Housing Act.
The biggest difference between a 401(k) plan and a traditional pension plan is the distinction between a defined benefit plan and a defined contribution plan. Defined benefit plans, such as pensions, guarantee a given amount of monthly income in retirement and place the investment risk on the plan provider. Defined contribution plans, such as 401(k)s, allow individual employees to choose their own retirement investments with no guaranteed minimum or maximum benefits.
How they work. For those unfamiliar with cash balance plans, they are sometimes known as defined-benefit plans in drag.. Cash balance plans offer some of the features of both defined-contribution (DC) and defined-benefit (DB) plans.