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.
Chattel Real: A Real Definition. Chattel real is property like a building or a piece of land that is held for a limited amount of time. How can someone hold a building or land for a limited amount of time? This is done by having a lease on the property.