Defined benefit pension plans provide a promise to pay to participants specified benefits that are determinable and are based on such factors as age, years of service, and compensation.

Defined benefit pension plans may be single employer or multiemployer plans, In addition, these plans may be funded through accumulated contributions and investment income (self-funded plans), insurance contracts (insured plans), or a combination of both (split-funded plans). Contributions may be required from both employers and participants (contributory plans) or from employers only (noncontributory plans).

Traditional defined benefit pension plans provide benefits that are defined in terms of a percentage of final average compensation or career average compensation, or as a flat dollar benefit per year of service.

·          Types of Defined Benefit Pension Plans

·          Accounting and Reporting by Defined Benefit Pension Plans

·          Frequently Asked Questions
- Specific to defined benefit pension plans
- Applicable to all plans