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.
A catch-all category of property mostly associated with movable goods. At common law, chattel included all property that was not real estate and not attached to real estate.Examples included everything from leases, to cows, to clothes.In modern usage, chattel often merely refers to tangible movable personal property.t common law, chattel included all property that was not real estate and not attached to real estate. Examples included everything from leases, to cows, to clothes. In modern usage, chattel often merely refers to tangible movable personal property.