retirement plan
retirement plan — noun
1. a way of regularly putting money aside while you are working, often with contrib
a way of regularly putting money aside while you are working, often with contributions from your employer, so that you have income to live on after you stop working.
Mei-Lin's employer offers a retirement plan that adds fifty cents for every dollar she saves.
employer matching contribution pattern
Starting a retirement plan early in your career gives your savings more time to grow.
Without a retirement plan, many older adults struggle to cover their medical bills and rent.
The company retirement plan provides a monthly pension to workers who retire at sixty-five.
Kwame joined the retirement plan as soon as he became eligible at his new job.
- pension plan
specifically refers to an employer-funded plan that guarantees a set monthly payment after retirement, while 'retirement plan' is a broader term covering both pension plans and individual savings accounts.
- superannuation
used mainly in British, Australian, and New Zealand English; refers to the same concept of compulsory or workplace retirement savings.
- retirement scheme
slightly more formal; often used for government or large employer programs rather than individual accounts.
用法筆記
Often used with an employer name or modifier: 'company retirement plan', 'government retirement plan'.
常見錯誤
2. a particular investment account or savings product, such as an IRA or 401(k), th
a particular investment account or savings product, such as an IRA or 401(k), that you set up and manage to provide money for your retirement.
Diego rolled his old retirement plan into a new account when he changed jobs.
verb collocation: roll ~ into [new account]
The financial adviser helped Noa compare the fees on two different retirement plans.
You can put money into this retirement plan each year without paying tax on it.
Haruki withdrew money from his retirement plan early and paid a ten percent penalty.
Sofia chose a retirement plan that invests mostly in low-risk government bonds.
用法筆記
In American English, this sense commonly refers to specific named products such as a 401(k), IRA (Individual Retirement Account), or Roth IRA. Distinguish from sense 1, which describes the general idea of saving for retirement rather than a named financial product.