A Hybrid Defined Benefit (DB) Plan is a type of retirement pension plan that contains elements of both defined benefit (DB) and defined contribution (DC) plans, and the other type is a cash balance plan. The benefits of Defined Benefit (DB) plan depends on a rate of return credited to contributions, where this rate of return is either specified in the plan rules, or calculated with reference to the actual return of any supporting assets and a minimum return guarantee specified in the plan rules. (Refer to the Pension Plan (or Scheme))
Related Definitions in the Project: The Commercial Definitions
