trust fund plan
A pension plan
under which employer and employee contributions are forwarded to a
trustee, who is responsible for investing the contributions and is
often responsible for making benefit payments to plan participants.
The duties of the trustee, who may be an individual or an
institution such as a
bank trust department, are spelled out in a trust
agreement. A trustee generally does not guarantee that the trust
fund will be adequate to pay current and future pension
benefits.
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