https://secureservercdn.net/126.96.36.199/65x.d7b.myftpupload.com/wp-content/uploads/2021/09/Defined-Benefit-vs-defined-contribution.png?time=1631923146 281 500 WhiteWater Financial https://secureservercdn.net/188.8.131.52/65x.d7b.myftpupload.com/wp-content/uploads/2020/11/wwfLogoWeb.jpg WhiteWater Financial2021-09-01 06:00:002021-09-01 13:45:18The Key Differences Between a Defined Benefit and Defined Contribution Pension Plan
You may be thinking about offering your employees a pension plan. You have two main choices for pension plans. One is a defined benefit pension plan – this gives your employees a set amount of money when they retire. The other option is a defined contribution pension plan, which offers more flexibility, but no set amount of money during retirement. There are four key areas you must know about for pension plans: • Contributions • Investment Management • Costs • Employee Retention We will walk you through each of these to help give you a better understanding of the differences between the two types of pension plans.