frozen plan

Definition

A retirement plan to which no new contributions are being made. Previous contributions remain in employee accounts until distribution. A frozen plan must be maintained as long as funds remain.

Use frozen plan in a sentence

You should always try to make sure that your portfolio does not turn in to a frozen plan and look for any ways to improve it.

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The frozen plan served as a valuable part of our client's retirement plan, despite no recent contributions, it holds its value.

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The financial planning committee is reviewing and accepting comments concerning creating a better retirement plan for current employees because the frozen plan is being rejected by large number of the workforce.

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frozen pension frozen account