contributionplan
nounUK /ˌkɒntrɪˈbjuːʃən plæn/
US /ˌkɑːntrɪˈbjuːʃən plæn/
A contribution plan is a way to save money by adding a little bit at a time.
My mom has a contribution plan at work that helps her save for later.
RELATED WORDS
OTHER MEANINGS
2. A plan for sharing costs or giving money to a group effort.
The club made a contribution plan so everyone could help pay for the trip.
3. A retirement plan where the worker and boss both put money in.
Her company offers a contribution plan that adds money to her retirement account.
4. A schedule for making regular gifts or donations.
The charity set up a monthly contribution plan for its supporters.