A traditional pension plan that defines a benefit for an employee upon that employee's retirement is a defined benefit plan. In the U.S., corporate defined benefit plans, along with many other types of defined benefit plans, are governed by the Employee Retirement Income Security Act of 1974 (ERISA).
Full Definition of CHATTEL. 1. : an item of tangible movable or immovable property except real estate and things (as buildings) connected with real property. 2.: slave, bondman.See chattel defined for English-language learners.See chattel defined for kids. ADVERTISEMENT.ull Definition of CHATTEL. 1. : an item of tangible movable or immovable property except real estate and things (as buildings) connected with real property. 2. : slave, bondman. See chattel defined for English-language learners. See chattel defined for kids.
Word Origin and History for chattel Expand. n. early 13c., chatel property, goods, from Old French chatel chattels, goods, wealth, possessions, property; profit; cattle, from Late Latin capitale property (see cattle, which is the Old North French form of the same word).