Retirement Savings Plan (Noun)
Meaning
A plan for setting aside money to be spent after retirement.
Classification
Nouns denoting cognitive processes and contents.
Examples
- Many employees enroll in a retirement savings plan as soon as they become eligible to secure their financial future.
- A retirement savings plan is a smart investment strategy for individuals who want to ensure a comfortable life after retirement.
- The company offers a retirement savings plan to its employees, with matching contributions up to a certain percentage.
- Individuals can start contributing to a retirement savings plan at any age, but the earlier they start, the more they can benefit.
- Some employers require employees to contribute to a retirement savings plan, while others make it optional with incentives.
Synonyms
- Pension Account
- Retirement Savings Account
- Retirement Program
- Retirement Account
- Pension Plan
- Retirement Plan