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 …