The advantages of a defined benefit plan

There are two major types of retirement plans

These are defined benefit plans (like yours) and defined contribution plans.

As the name suggests, a defined benefit plan provides a specified monthly pension payment in retirement based on a formula, making the benefit defined. Members and employers both contribute funds that get invested over time to build a retirement income for the employees.

What's on this page
  • Types of retirement plans
  • Defined benefit vs defined contribution plan

Defined benefit plan vs defined contribution plan

The chart below outlines some key points of difference between the two types of plans. Your WISE Trust pension is a defined benefit pension plan.

Keep reading: About the Plan

What you should know about your WISE Trust pension.

How a defined benefit plan works

Learn how your WISE Trust pension works and what that means to you.
How my plan works

How is the pension plan funded?

Find out who pays into the Plan and how.
Funding information
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