Voluntary plan

Voluntary plan

A pension plan supported partially by the employee by pension contributions deducted from each paycheck.

Voluntary Deductible Employee Contribution Plan

An optional, individual plan in which employees join a pension and pay the premiums by having their employer deduct a portion of their paycheck every month or pay period. The employer does not make any contributions to the plan and, as a result, employees may take the plan with them if they change jobs.