50 Reasons Not to Kill Yourself (and I Swear to God You're Helping Me -- Just By Existing).0 Reasons Not to Kill Yourself (and I Swear to God You're Helping Me -- Just By Existing).
A traditional defined benefit (DB) plan is a plan in which the benefit on retirement is determined by a set formula, rather than depending on investment returns. Government pensions such as Social Security in the United States are a type of defined benefit pension plan.
The best-known defined-contribution plan is the 401(k), and its equivalent for non-profits' workers, the 403(b). In common parlance, pension plan often means the more traditional defined-benefit plan, with a set payout, funded and controlled entirely by the employer. Some companies offer both types of plans. They even allow employees to roll over 401(k) balances into their defined-benefit plans.