Retirement plan terminology can be confusing, even for business leaders who already sponsor a 401(k) or other benefit program. Terms like “defined benefit,” “qualified benefit,” and “pension plan” are often used interchangeably, but in reality, they refer to distinct concepts …
How Interest Crediting Works in Cash Balance Plans
Cash balance plans are a popular option for employers who want to offer a defined benefit retirement plan that presents benefits in a way similar to a 401(k), making them easier …