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Glite Dictionary
employee savings plan

employee savings plan

3.1
A program from an employer that lets workers save part of their pay for retirement or other future needs
  • noun
  • /ɪmˈplɔɪiː ˈseɪvɪŋz plæn/
translation icon : plan de ahorro para empleados
  • Many workers participate in an employee savings plan to save money for their retirement.

Examples

  • The employee savings plan allows you to automatically deduct money from your paycheck each month.

  • Thanks to her employee savings plan, she was able to build a solid financial foundation.

  • Many workers participate in the company's employee savings plan to prepare for retirement.

  • The company offers an employee savings plan to help workers save for retirement.

  • Many employee savings plans include matching contributions from the employer.

  • The company offers an employee savings plan that matches contributions up to 5 percent of salary.

  • She recently reviewed her employee savings plan options to increase her savings for the future.

Synonyms

pension plan
vsemployee savings plan
  • US
27 3.1

Money that an employer or worker saves regularly to give income after you stop working

focuses more on programs where employees actively contribute part of their earnings
retirement plan
vsemployee savings plan
27 3.0

A set of savings and investments that gives you money after you stop working

is an employer program that lets staff contribute earnings into an investment fund
retirement account
vsemployee savings plan
  • US
21 3.0

A plan where you save money to use after you stop working

is offered by an employer and asks employees to contribute part of their wages
401(k) plan
vsemployee savings plan
  • Specialized
10 3.5

A US retirement plan where workers save part of pay before tax and employers often add money, taxed when taken

is an employer program letting staff put part of wages into investments for later
retirement program
vsemployee savings plan
3 3.0

A plan that helps people save money to use after they stop working

is the employer-run version that specifically allows staff to put earnings into investments
pension account
vsemployee savings plan
1 3.3

An account for saving money to use after you stop working

centres on employer-offered programs encouraging staff to contribute portions of earnings
retirement savings plan
vsemployee savings plan
1 2.5

Money you regularly save to use after you stop working

is specifically an employer-run scheme asking staff to contribute part of their pay
retirement savings account
vsemployee savings plan
1 3.1

An account that holds money to use after you stop working

is an employer-established option that channels staff contributions into investment funds
401(k)
vsemployee savings plan
  • Specialized
4.9

A US retirement account where workers put money before tax and employers often add money

is an employer program where staff contribute part of earnings into an investment fund

Surface Forms

employee savings plan singular
employee savings plans plural

Morphology

employee + savings + plan

The meaning is directly and compositionally built from 'employee' (workers) + 'savings' (money set aside) + 'plan' (a structured program), so a learner who knows the constituents can infer it refers to a program enabling employees to save. This is a straightforward, cross-linguistically common institutional noun phrase, so it should be comprehensible to a B1 learner.

Etymology

Employee savings plan comes from a simple, literal idea: an employer sets up a plan so employees can put part of their pay into savings each month. That's why it means a company program that helps workers save money for the 'future' or 'retirement'.