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Investments glossary

Unfunded Pension Plan

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An inexhaustible good nature is one of the most precious gifts of heaven, spreading itself like oil over the troubled sea of thought, and keeping the mind smooth and equable in the roughest weather.

— Washington Irving

An unfunded pension plan is an employer-managed retirement plan that uses the employer’s current income to fund pension payments as they become necessary.1 This is in contrast to an advance funded pension plan where an employer sets aside funds systematically and in advance to cover any pension plan expenses such as payments to retirees and their beneficiaries.2



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