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LSDefine

Simple English definitions for legal terms

fixed-benefit plan

Read a random definition: mercantile paper

A quick definition of fixed-benefit plan:

A fixed-benefit plan is a type of retirement plan where the employer promises to give a specific amount of money to each employee after they retire. This is different from other plans where the amount of money given is based on how much the employee and employer contribute. Fixed-benefit plans are also known as defined pension plans.

A more thorough explanation:

A fixed-benefit plan is a type of pension plan where the employer promises specific retirement benefits to each employee. This means that the employee knows exactly how much they will receive in retirement, regardless of how the plan's investments perform.

For example, if an employee has a fixed-benefit plan that promises them $1,000 per month in retirement, they will receive that amount no matter what. This is different from a defined-contribution plan, where the employee's retirement benefits depend on how much they and their employer contribute and how well the investments perform.

Other types of pension plans include:

These different types of pension plans illustrate the various ways that employers can provide retirement benefits to their employees. Fixed-benefit plans are attractive to employees who want a guaranteed retirement income, but they can be more expensive for employers to maintain than other types of plans.

fix bail | fixed capital

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General

General chat about the legal profession.
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got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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