1. 61682 POINTS
    Steve SavantPRO
    Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
    A traditional pension plan is generally categorized as a defined benefit plan. The old school convention was managing retirement to an established amount in the future. That was then. Now defined contribution plans are much more in vogue like a 401(k) retirement plan.
    Answered on September 10, 2013
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