- Refers to an individual who chooses to participate in an employer's retirement plan.
beneficiary, grantee, recipient
Related Terms and Acronyms
- Empty Nesters — Definition,
- Men or women whose children have grown up and moved out and who might be in the market for a smaller house.
- Registered Retirement Savings Plan (RRSP) — Acronym, Canada, Very Important,
➥ Tax deferred investment contribution used to reduce income tax.
- A savings plan introduced by the federal government to encourage Canadians to save money for retirement. The investment and the interest earned on it is sheltered: it will not be taxed as long as it is left in the plan.
- Reverse Mortgage — Definition, Important,
- A loan that allows an older homeowner to convert built-up equity into cash. The loan comes due when the owner dies, sells the house or moves out.