Employees' retirement
benefits are predetermined
by his or her compensation,
years of service, and age. A
Defined Benefit Plan may
determine that upon
retirement an employee will
receive 1% of his/her
average salary for the last
five years of employment for
every year of service with
the employer or the plan
may state the promised
benefit as an exact dollar
amount, such as $100 per
month at retirement.

The employer will make
contributions that, based on
actuarial assumptions
including projected growth
of investments, are required
to reach the predetermined
retirement benefit. Should
the performance of plan
investments fall below the
projected amount, the
employer is required to
make additional
contributions to make up for
the shortfall.

The contribution limits for
Defined Benefit Plans are
significantly higher than the
limits of defined contribution
plans. (See below)
914-276-6000
800-498-1819
Click on the link below to
fill out a New York Employee
Benefits Plans contact form.
Direct Access Group Benefits, Inc.
© 2004, All Rights Reserved
(914) 276-6000
(800) 498-1819 toll free
(914) 401-9319 fax

189 Route 100
PO Box 590
Somers, New York 10589
Westchester County, NY
Group Benefits
Direct Access
Westchester County New York Insurance Agency