Non Contributory Plan Definition and Explanation PDF Download
Learn Non Contributory Plan definition in hrm with explanation to study “What is Non-Contributory Plan”. Study non contributory plan explanation with HRM terms to review HRM course for online MBA programs.
Non Contributory Plan Definition:
Pension plan in which all the funds for pension benefits are provided by the employer.
Human Resource Management by Robert L. Mathis, John H. Jackson
Non Contributory Plan Explanation:
A noncontributory plan is any annuity plan or other kind of advantage plan that is paid for altogether by the business. Members in the arrangement are not required to make any installments. Managers as often as possible set up disaster protection noncontributory plans for their workers, however the aggregate sum of inclusion will in general be low. Noncontributory plans are most advantageous for low-pay representatives, who may not generally have the option to bear the cost of the related advantages.
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