What Does Profit Sharing Plan Mean?

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

Profit Sharing Plan

Profit Sharing Plan

A defined contribution benefit plan that does not promise a set amount at retirement. Up to 15 percent of employee compensation can be contributed on behalf of any employee annually.

We hope the you have a better understanding of the meaning of Profit Sharing Plan.

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