What Does Money Purchase Plan Mean?

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What does Money Purchase Plan mean? Read on to discover the definition & meaning of the term Money Purchase Plan - to help you better understand the language used in insurance policies.

Money Purchase Plan

Money Purchase Plan

A type of qualified plan under which contributions are fixed amounts or fixed percentages of the employee's salary. An employee's benefits are provided in whatever amount the accumulated or current contributions will produce for the employee.

We hope the you have a better understanding of the meaning of Money Purchase Plan.

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