Defined Benefit

As a fixed retirement benefit plan, Defined-Benefit it an attractive alternative for a company that doesn't have a qualified retirement plan. The benefits are based on a formula written in your plan and can be paid either based upon a percentage of the employees average compensation over a particular number of years (i.e. the last three years of employment) or it may call for a flat monthly payment based on months or years of service. The plan provides long-time employees who are close to retire