Either literally a financial amount or figuratively towards an artistic (or other) genre that an individual has made during their lifetime. Also used sarcastically.
1. The net contribution of Beethoven to the Symphony is incalculable.
Defined-contribution (DC) retirement plans allow employees to invest pre-tax dollars in the capital markets where they can grow tax-deferred until retirement.
Simpler Explained: A defined contribution plan is a common workplace retirement plan in which an employee contributes money and the employer typically makes a matching contribution
Essentially, they are retirement plans that companies may offer as a benefit in which you, your employer or both make contributions on a regular basis.
The most common examples of defined-contribution plans are the 401(k) and the 403(b).