15:23
i, shamelessly, was a very big fan of pretty much everything Sarah J. Maas for years and years, but that was so polluted by booktok that it makes me cringe. very fun read for young me tho
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Warning
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LSDefine
Simple English definitions for legal terms
pension plan
Read a random definition: manual-rating insurance
A quick definition of pension plan:
A pension plan is a program set up by an employer or employee organization that helps employees save money for when they retire. It provides retirement income to employees or allows them to save money from their paychecks until they stop working. This program can continue even after an employee leaves their job.
A more thorough explanation:
Definition: A pension plan is a program established by an employer or an employee organization that provides retirement income to employees or allows them to defer income until after they leave their job.
For example, a company might offer a pension plan to its employees as part of their benefits package. The plan would allow employees to contribute a portion of their income to the plan, which would then be invested to grow over time. When the employee retires, they would receive regular payments from the plan to supplement their income.
Another example of a pension plan is a government-run program like Social Security. Workers pay into the program throughout their careers, and then receive retirement benefits once they reach a certain age.
Overall, pension plans are designed to help workers save for retirement and ensure that they have a source of income once they stop working.