Resource Tag: DB(k) plan
New Combination Plan
The Pension Protection Act of 2006 establishes a new kind of hybrid pension plan for employers with 500 or fewer employees. The new “DB(k) plan” combines a traditional defined benefit pension plan with a 401(k) savings plan. The DB(k) plan provides a low employer-paid guaranteed lifetime monthly retirement benefit that can be supplemented by voluntary tax deferred contributions by employees. […]
