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1. Dictionary

   Ben·e·fit

   /ˈbenəfit/

   

   noun

   • 1. an advantage or profit gained from something: "enjoy the benefits of being a member" Similar goodsakeinterestwelfarewell-beingsatisfactionenjoymentadvantagecomforteaseconveniencehelpaidassistanceavailuseutilityserviceadvantagerewardmeritgood pointstrong pointstrengthassetplusplus pointbonusboonblessingvirtueperkfringe benefitadditional benefitadded extrausefulnesshelpfulnessconvenienceadvantageousnessvalueprofitformal:perquisiteOpposite detrimentdisadvantagedrawback
   • 2. a payment or gift made by an employer, the state, or an insurance company: "welfare benefits" Similar social security paymentssocial securitystate benefitunemployment benefitgovernment benefitbenefit paymentspublic assistance allowancewelfareinsurance moneysick paypensioncharitydonationsgiftsfinancial assistanceinformal:the dolethe buroothe broo
   • 3. a public performance or other entertainment of which the proceeds go to a particular charitable cause: "the social season was highlighted by debutante balls and charity benefits"

   verb

   • 1. receive an advantage; profit: "the areas would benefit from regeneration" Similar profitgainreap benefitsreap financial rewardmake moneymake the most ofexploitturn to one's advantageput to good usedo well out ofinformal:cash inmake a killing
   • ▪ bring advantage to: "the bill will benefit the nation" Similar be advantageous tobe beneficial tobe of advantage tobe to the advantage ofprofitdo good tobe of service toservebe useful tobe of use tobe helpful tobe of help tohelpaidassistbe of assistance tobetterimprovestrengthenboostadvancefurtherOpposite damage

   Word Origin late Middle English (originally denoting a kind deed or something well done): from Old French bienfet, from Latin benefactum ‘good deed’, from bene facere ‘do good (to)’.

   Scrabble Points: 12

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2. www.investopedia.com › terms › dWhat Is a Defined-Benefit Plan? Examples and How Payments Work

   www.investopedia.com › terms › d

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   Jun 21, 2024 · A defined-benefit plan is an employer-sponsored retirement plan where employee benefits are computed using a formula that considers several factors, such as length of employment and...

3. www.forbes.com › what-is-a-defined-benefit-planWhat Is A Defined Benefit Plan? – Forbes Advisor

   www.forbes.com › what-is-a-defined-benefit-plan

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   Dec 15, 2022 · A defined benefit plan, more commonly known as a pension, offers guaranteed retirement benefits for employees. Defined benefit plans are largely funded by employers, with retirement payouts...

4. www.investopedia.com › ask › answersDefined-Benefit vs. Defined-Contribution Plans: What's the ...

   www.investopedia.com › ask › answers

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   Aug 7, 2024 · As the names imply, a defined-benefit plan—also commonly known as a traditional pension plan —provides a specified payment amount in retirement. A defined-contribution plan...

5. www.fool.com › qualified › defined-benefitDefined Benefit Plan: What It Is and How It Works | The ...

   www.fool.com › qualified › defined-benefit

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   A defined benefit plan is an employer-sponsored retirement plan that provides qualifying employees with a guaranteed payout in retirement. It's an alternative to a defined contribution plan,...

6. money.usnews.com › what-is-a-defined-benefit-planWhat Is a Defined Benefit Plan? | Retirement | U.S. News

   money.usnews.com › what-is-a-defined-benefit-plan

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   Jul 21, 2023 · “A defined benefit plan is a type of pension plan that is fully funded by employer contributions and is a promise to pay benefits at retirement based on various factors such as age,...

7. www.irs.gov › retirement-plans › defined-benefit-planDefined benefit plan | Internal Revenue Service

   www.irs.gov › retirement-plans › defined-benefit-plan

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   Defined benefit plans provide a fixed, pre-established benefit for employees at retirement. Employees often value the fixed benefit provided by this type of plan. On the employer side, businesses can generally contribute (and therefore deduct) more each year than in defined contribution plans.

8. www.financestrategists.com › defined-benefit-planDefined Benefit Plan | Definition, Benefits and Drawbacks

   www.financestrategists.com › defined-benefit-plan

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   Feb 15, 2024 · A defined benefit plan is a type of retirement plan that promises a set payment at a regular frequency after the employee retires. Employers calculate the benefits allocated to each worker based on salary, age, and length of employment.