Series 50: Defined Benefit Plans

Taken from our Series 50 Online Guide

Defined Benefit Plans

Defined benefit plans are funded by three different sources of revenue: employee contributions, employer contributions (the municipality), and investment income. If the contributions and income are not enough to fund the benefits and expenses of the plan, the plan is said to be underfunded. An understanding of pension plans can be represented by the following equation:

employer and employee contributions + investment income = benefits + plan expenses

A pension plan may be underfunded bec

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