profit sharing plan
An
employee-benefit plan whereby the employer pays a portion of the
company's profits to the employees. The employer's contributions are
discretionary and may be
(1) paid in cash or stock when profits are
determined, (2) deferred to individual accounts for each employee, or
(3) distributed by a combination of the two methods.
Profit-sharing plans can be used as
a source
of retirement income
or as a more short-term
savings/investment vehicle.
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