engagements sociaux à prestations définies/régimes à prestations définies

English translation: defined employee benefit obligations/defined benefit plans

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:engagements sociaux à prestations définies/régimes à prestations définies
English translation:defined employee benefit obligations/defined benefit plans
Entered by: Transflux (X)

13:37 Apr 12, 2005
French to English translations [PRO]
Bus/Financial - Finance (general) / Pension schemes
French term or phrase: engagements sociaux à prestations définies/régimes à prestations définies
This is a company in France. Audit report.


Concernant les retraites, il est noté un accroissement des engagements du groupe à la suite de l’acquisition xxx. La valorisation actuarielle des régimes de retraite et autres engagements sociaux à prestations définies fait apparaître un écart entre les engagements xxxx et les actifs d’environ xxx au 31.12.2004 en hausse par rapport à 2003, du fait d’un changement des tables de mortalité aux Etats-Unis

- Retraites
Les principaux changements intervenus au cours de l’exercice pour les régimes à prestations définies sont une modification des tables de mortalité aux USA (impact : xxx)
Transflux (X)
Local time: 09:10
defined employee benefit obligations//defined benefit plans
Explanation:
the prestations are the benefits, IMO...

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Note added at 1 hr 12 mins (2005-04-12 14:49:27 GMT)
--------------------------------------------------

Please Note: They are using the American idea here...there are two kinds of plans: defined benefits and defined contributions. It sounds like they are referring to defined benefit where prestations is the way they say the payment made to the retiree..ie the benefit...

I can\'t see how prestations would be the money paid in the employee...I can\'t see how that would mean \'contribution\' in English



Defined Benefit and Contribution Pension Plans
From Harmon and Jenny McKinney,

Differences along with advantages and disadvantages of both
A defined contribution plan provides an individual account for each participant. The benefits are based on the amount contributed and are also affected by income, expenses, gains and loses. The annual contributions in a defined contribution plan cannot exceed the smaller of $40,000 or 100% of the participant’s compensation. An employer’s deduction benefit may not exceed 25% of eligible compensation. Some examples of defined contribution plans include 401(K) plans, 403(b) plans, employee stock ownership plans and profit sharing plans.

***A defined benefit plan promises the participant a specific monthly benefit at retirement and may state this as an exact dollar amount.*** Monthly benefits could also be calculated through a formula that considers a participants salary and service. A participant is generally not required to make contributions in a private sector fund but most public sector funds require employee contributions. Unlike defined contribution plans, the participant is not required to make investment decisions.

Advantages of Defined Benefit Plans

Guaranteed retirement income security for workers

No investment risk to participants

Cost of living adjustments

Not dependant on the participant’s ability to save

Tax deferred retirement savings medium

Disadvantages of Defined Benefit Plans

Difficult to understand by participant

Not beneficial to employees who leave before retirement

Advantages of Defined Contribution Plans

Tax deferred retirement savings medium

Participants have a certain degree of how much they choose to save

Can be funded through payroll deductions

Lump sum distributions may be eligible for special 10 year averaging

Participants can benefit from good investment results

Easily understood by participants

Disadvantages of Defined Contribution Plans

Difficult to build a fund for those who enter late in life

Participants bear investment risk

Annual employee salary reductions is limited to $11,000

Enjoy and learn from other articles in this Retirement Planning series

© Copyright 2003 Harmon W. McKinney, Jr.
Licensed to About.com All rights reserved Important disclaimer information about this About site.
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Selected response from:

Jane Lamb-Ruiz (X)
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +2defined employee benefit obligations//defined benefit plans
Jane Lamb-Ruiz (X)
4 +1social commitments of defined services/scheme of defined services
LILIANA HUTANU


Discussion entries: 4





  

Answers


6 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
social commitments of defined services/scheme of defined services


Explanation:
.

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Note added at 7 mins (2005-04-12 13:45:15 GMT)
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schemes of defined services


LILIANA HUTANU
Romania
Local time: 10:10
Works in field
Native speaker of: Native in RomanianRomanian
PRO pts in category: 12

Peer comments on this answer (and responses from the answerer)
agree  Antonella Amato: or defined-benefit scheme - This is a technical term
13 mins
  -> Thanks, Antonella.
Login to enter a peer comment (or grade)

19 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
defined employee benefit obligations//defined benefit plans


Explanation:
the prestations are the benefits, IMO...

--------------------------------------------------
Note added at 1 hr 12 mins (2005-04-12 14:49:27 GMT)
--------------------------------------------------

Please Note: They are using the American idea here...there are two kinds of plans: defined benefits and defined contributions. It sounds like they are referring to defined benefit where prestations is the way they say the payment made to the retiree..ie the benefit...

I can\'t see how prestations would be the money paid in the employee...I can\'t see how that would mean \'contribution\' in English



Defined Benefit and Contribution Pension Plans
From Harmon and Jenny McKinney,

Differences along with advantages and disadvantages of both
A defined contribution plan provides an individual account for each participant. The benefits are based on the amount contributed and are also affected by income, expenses, gains and loses. The annual contributions in a defined contribution plan cannot exceed the smaller of $40,000 or 100% of the participant’s compensation. An employer’s deduction benefit may not exceed 25% of eligible compensation. Some examples of defined contribution plans include 401(K) plans, 403(b) plans, employee stock ownership plans and profit sharing plans.

***A defined benefit plan promises the participant a specific monthly benefit at retirement and may state this as an exact dollar amount.*** Monthly benefits could also be calculated through a formula that considers a participants salary and service. A participant is generally not required to make contributions in a private sector fund but most public sector funds require employee contributions. Unlike defined contribution plans, the participant is not required to make investment decisions.

Advantages of Defined Benefit Plans

Guaranteed retirement income security for workers

No investment risk to participants

Cost of living adjustments

Not dependant on the participant’s ability to save

Tax deferred retirement savings medium

Disadvantages of Defined Benefit Plans

Difficult to understand by participant

Not beneficial to employees who leave before retirement

Advantages of Defined Contribution Plans

Tax deferred retirement savings medium

Participants have a certain degree of how much they choose to save

Can be funded through payroll deductions

Lump sum distributions may be eligible for special 10 year averaging

Participants can benefit from good investment results

Easily understood by participants

Disadvantages of Defined Contribution Plans

Difficult to build a fund for those who enter late in life

Participants bear investment risk

Annual employee salary reductions is limited to $11,000

Enjoy and learn from other articles in this Retirement Planning series

© Copyright 2003 Harmon W. McKinney, Jr.
Licensed to About.com All rights reserved Important disclaimer information about this About site.
Most Popular Video




Jane Lamb-Ruiz (X)
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in PortuguesePortuguese
PRO pts in category: 763

Peer comments on this answer (and responses from the answerer)
agree  Vicky Papaprodromou
1 min

agree  Patrice: defined benefit plans/schemes
5 hrs
Login to enter a peer comment (or grade)



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