Defined Benefit Plan

A defined benefit plan (DB) is a pension plan where the plan sponsor such as an employer assumes responsibility for directing and managing all plan assets. In contrast to a defined contribution plan, the plan sponsor assumes market risk under a defined benefit plan. In addition, the plan sponsor would often assume responsibility for converting accumulated assets into a stream of income for the plan participant—thus performing a function that is similar to an annuity in many ways. The number of defined benefit plans has decreased significantly over the past 20 years.

New Deferred Income Annuity from NY Life

News on a recent deferred income annuity product release from New York Life:


The Garrett Network's Fee-Only Approach Creates Natural Partnerships Between Clients and Financial Advisors

Sheryl Garrett is the founder of the Garrett Planning Network.

The Garrett Network consists of approximately 300 financial advisors who provide services on a fee-only basis and act as fiduciaries.

Read on to understand how and why the Garrett Network seeks to make objective, competent...