Defined Benefit

This is a type of qualified retirement plan that promises a specific benefit at retirement usually based on some actuarial assumptions that include assumed interest rates, salary and years of service.  The contributions are generally much larger to fund for the retirement benefit and these contributions are required to be contributed every year.

A Cash Balance Plan is a Hybrid Defined Benefit Plan that looks like a Defined Contribution Plan, that has a fixed contributions are credited to each participant at the end of each year.  The plan appears to the participant like a typical Defined Contribution (401k) account.