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Simple English definitions for legal terms

fixed-benefit plan

Read a random definition: unqualified ownership

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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awman i was hopign to come home to a ucla wave
is it too late? its 2pm there
OMG U MEAN A NEW ALBUM OMGG NOW I CAN BE DISTRACTED AGAIN
shaquilleoatmeal
17:14
Nah not a Garmin, Apple watch
We not gonna see splitterus for 4 hrs
HAHAHAHHA
MRS CLITTERUS
JumpySubsequentDolphin
17:17
I’ve barely gotten through chromakopia I can’t deal with another album drop rn
JumpySubsequentDolphin
17:17
this is so stressful
wait but actually is there no wave today
i dont really like chromakopia that much i also havent gotten thru it
JumpySubsequentDolphin
17:18
idk splitty :(
if there's no gtown today that would be so cruel
surely gtown 12 minutes from now
I'm a chromokopia fan, but I don't like Tyler outside of that album
theres the spirit!!
JumpySubsequentDolphin
17:18
@SplitterusClitterus: did you like cmiygl? that’s one of my all time fave albums
Kind of a controversial take. I like experimental albums a lot
babycat
17:19
liking chromakopia and not Tyler's other stuff is crazy to me
JumpySubsequentDolphin
17:19
perhaps im biased bc i saw him live when he performed cmiygl for the first time
i think it is a controverisal take and i usually do too, i also think im giving an opinion too early cuz i habvent finished it at all
yeah seeing him live prob makes it a million times better
Thought I was dead is great raps
2024 such a great year for rap
JumpySubsequentDolphin
17:21
i like noid
even outside the beef. Noid is great too
JumpySubsequentDolphin
17:22
boogies album was the worst ever
JumpySubsequentDolphin
17:22
and i LOVE boogie
JumpySubsequentDolphin
17:23
like i would do anything for one chance w that man but better off alone and me vs myself were both not good
He's never really been my style tbh
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