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Instead of defined benefits, the elderly would get a fixed amount of money--often described as a voucher which over time might not buy the insurance they now receive as an entitlement.
Last year, voters there approved their own ballot measure requiring all new city employees, except police officers, to be given 401 k -style retirement plans instead of defined benefit pensions.
Opponents of teacher pensions can't seem to help recycling the deeply flawed argument that because of high attrition rates among new teachers, the teaching profession would be better off with 401 k)s or similar account-based plans, instead of defined benefit (DB) pensions that guarantee lifetime retirement income based on salary and years of service.
The onus of saving for retirement has shifted from employer to employee in recent decades, as many employers have chosen to reduce their liabilities by offering defined contribution retirement plans instead of defined benefit plans (pensions).
The most focal benefits experienced by the teams were (1) the improved communication through more efficient meeting routines, (2) the improved teamwork through planning the work together as a team instead of defined by the project manager, and (3) the transparent rhythm to the sometimes slowly proceeding embedded space system development work through utilization of iterations.
A nested hierarchical model structure opens the door for reducing model complexity not only by specifying rule schemata as described above, i.e. by specifying reactant species with variables instead of defined attribute values.
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Instead of defining himself, he allowed enemies to define him.
Using metallic leaf and thick, boxy-looking canvases, her paintings infiltrate space instead of defining it.
And they start in the middle instead of defining things from the beginning.
Instead of defining transition rules, the Extreme Learning Machine (ELM) was applied in this study.
Instead of defining the simulation model at once, the method modificates the simulation model during simulation run time.
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CEO of Professional Science Editing for Scientists @ prosciediting.com