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LSDefine

Simple English definitions for legal terms

noncontributory pension plan

Read a random definition: patent medicine

A quick definition of noncontributory pension plan:

A noncontributory pension plan is a retirement plan where only the employer contributes money towards the retirement benefits of the employees. This means that the employees do not have to contribute any money towards their retirement benefits.

A more thorough explanation:

A noncontributory pension plan is a type of pension plan where only the employer contributes to the plan. This means that the employee does not have to contribute any money towards their retirement savings.

For example, if an employer offers a noncontributory pension plan to their employees, they will be responsible for funding the plan entirely. The employees will not have to contribute any portion of their salary towards the plan.

Noncontributory pension plans are different from contributory pension plans, where both the employer and employee contribute to the plan. They are also different from defined-contribution pension plans, where the employer contributes a set amount of money to the plan, but the employee is responsible for managing their own investments.

Overall, noncontributory pension plans can be a valuable benefit for employees, as they allow them to save for retirement without having to contribute any of their own money.

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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