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Leistungszusage

English translation: defined benefit (as in a pension plan)

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Leistungszusage
English translation:defined benefit (as in a pension plan)
Entered by: Kim Metzger
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16:17 Mar 11, 2007
German to English translations [PRO]
Bus/Financial - Law: Contract(s) / Austrian document
German term or phrase: Leistungszusage
In a termination agreement for a person who has resigned an appointment in a Vorstand (by mutual consent)

"Die Rechte aus der direkten Leistugsdzusage wurden mit Vorsorgevereinbarung vom (date) auf die XXX Pensionskassen Aktiengesellschaft" uebertragen.

I thought at first that this might be a typo for Leistungzulage but bonus entitlements are dealt with separately.

Many thanks for your help.
transatgees
United Kingdom
Local time: 12:53
defined benefit
Explanation:
Defined Benefit (Leistungszusage)
Defined Benefit und Defined Contribution sind international gebräuchliche Begriffe zur Unterscheidung von Versorgungszusagen. Echte Defined-Contribution-Zusagen (Beitragszusagen) sind in reiner Form in Deutschland nicht möglich.

http://www.heissmann.de/Glossar.14.0.html


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Note added at 13 mins (2007-03-11 16:30:58 GMT)
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Pension plans can be divided into two broad types: Defined Benefit and Defined Contribution plans. The defined benefit plan had been the most popular and common type of pension plan in the United States through the 1980s; since that time, defined contribution plans have become the more common type of retirement plan in the United States and many other western countries.
Defined benefit plans
Under 26 U.S.C. § 414(j), a defined benefit plan is any pension plan that is not a defined contribution plan (see below). A defined contribution plan is any plan with individual accounts. A traditional pension plan that defines a benefit for an employee upon that employee's retirement is a defined benefit plan.
http://en.wikipedia.org/wiki/Pension
Selected response from:

Kim Metzger
Mexico
Local time: 06:53
Grading comment
Thank you
4 KudoZ points were awarded for this answer

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Summary of answers provided
3 +3defined benefit
Kim Metzger


  

Answers


10 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +3
Leistungszusage (Austrian document)
defined benefit


Explanation:
Defined Benefit (Leistungszusage)
Defined Benefit und Defined Contribution sind international gebräuchliche Begriffe zur Unterscheidung von Versorgungszusagen. Echte Defined-Contribution-Zusagen (Beitragszusagen) sind in reiner Form in Deutschland nicht möglich.

http://www.heissmann.de/Glossar.14.0.html


--------------------------------------------------
Note added at 13 mins (2007-03-11 16:30:58 GMT)
--------------------------------------------------

Pension plans can be divided into two broad types: Defined Benefit and Defined Contribution plans. The defined benefit plan had been the most popular and common type of pension plan in the United States through the 1980s; since that time, defined contribution plans have become the more common type of retirement plan in the United States and many other western countries.
Defined benefit plans
Under 26 U.S.C. § 414(j), a defined benefit plan is any pension plan that is not a defined contribution plan (see below). A defined contribution plan is any plan with individual accounts. A traditional pension plan that defines a benefit for an employee upon that employee's retirement is a defined benefit plan.
http://en.wikipedia.org/wiki/Pension


Kim Metzger
Mexico
Local time: 06:53
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1209
Grading comment
Thank you

Peer comments on this answer (and responses from the answerer)
agree  Annette Scheulen: Cf. Eurodicautom
5 mins

agree  Steffen Walter
10 mins

agree  Julia Lipeles
3 hrs
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Changes made by editors
Sep 2, 2015 - Changes made by Steffen Walter:
FieldLaw/Patents » Bus/Financial
Mar 11, 2007 - Changes made by Steffen Walter:
Term askedLeistungszusage (Austrian document) » Leistungszusage
Field (write-in)(none) » Austrian document


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