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This type of plan is known as a Defined Contribution Plan. In this plan, the employer contributes a set amount of money to the employee's retirement account each year, and the employee's benefits are based on the contributions and interest accumulated over time.
What is retirement?
Retirement is the withdrawal from one's job or career, after having worked for a period of time. It is a time when an individual decides to stop working and start enjoying life. It is a period to relax and enjoy one’s life after a long period of working. Retirement also provides an opportunity to engage in hobbies, travel, and social activities. It is an important milestone in life when a person can take some time off and enjoy the fruits of their labor. Retirement also allows a person to have more time to spend with their family and friends, and to pursue their passions. Retirement is a time of new beginnings, and it is important to plan ahead and make sure that you are financially and emotionally prepared for this new stage of life.
To learn more about retirement
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