Employee Benefit Plan
- A US plan created or maintained by an employer or employee organization that provides benefits to employees. The term may cover retirement pension plans, other plans for life insurance, health and dental insurance and disability income insurance. A plan's cost may be (nominally) completely paid for by the employer or be shared with employees. In the former case it is unlikely that there would be no wage adjustments, as a result of which the employee will bear at least a fraction of the cost. A plan may also cover such benefits as sick leave, disability, profit-sharing or stock purchasing.