This column has been modified to correct the amount of the required contribution for Janet's DB plan. Minimizing taxes isn’t always the best idea. Rich found this out the hard way. You may have heard ...

A defined benefit plan is funded and managed by an employer. A defined contribution plan is managed and funded by employees and boosted by employer contributions. Many or all of the products on this ...

What Are the Features of a Defined Benefit Plan? A defined benefit plan guarantees retirement benefits for an employee. Some of the features include: Employer sponsored: The employer funds and manages ...

Defined benefit plans are often referred to as pensions. For employees who meet certain criteria in the workplace, these accounts typically pay out predetermined benefits in retirement. Here's a look ...

Forbes contributors publish independent expert analyses and insights. Melissa Houston covers financial issues that affect women in business. Creating a successful business starts with a strong plan.