Sentence examples for defined contribution system from inspiring English sources
The government's defined benefit, fee-for-service insurance system would be reshaped into a defined contribution system, much like guaranteed pensions have shifted to 401(k) plans.
"The private plans gives one an easy tool to use to contain costs in the future: the ability to create a defined contribution system," where the government is only obliged to pay a certain amount towards care, said Marilyn Moon, a senior fellow at the Urban Institute who served as a trustee for the Medicare and Social Security trust funds.
In fact, I would dare presidential candidates professing a distaste for socialized medicine to call openly for abolition of the V.A. health system in favor of a purely privatized system – e.g., a defined contribution system such as that advocated for Medicare by Representative Paul D. Ryan, Republican of Wisconsin and chairman of the House Budget Committee.
Unemployment insurance savings accounts (UISA) are a more recent type of defined contribution system.
In a modern, defined contribution system, all workers and retirees get an annual report on the status of their pension investments.
In the past two years, a handful of legislators have proposed moving North Carolina's public employees into a risky and inadequate defined contribution system, not because North Carolina's pension plans are underfunded, but simply because they are ideologically opposed to defined benefit pensions.
The defined contributions system allows the government to rectify its mistake of "funding its own liability," he said.
The introduction of SSS is a significant turning point in Singapore's pension system, which has been dominated by a defined contribution scheme, the Central Provident Fund (CPF .10.
