 In this presentation, we will take a look at retirement plans. Retirement plans can be broken out into two broad categories. We've got defined benefit plans and we've got defined contribution plans. A defined benefit plan is one in which the employee will receive a certain amount each period after they retire. So in essence, we're going to say that after retirement, based on the conditions of the plan, there's going to be a certain amount that will be received in every period after that retirement date. The defined contribution plan usually has the employee contribute to the plan, usually by some type of percentage or fixed amount every pay period during the working time. And then the payouts are going to be varied depending on the type of plan. So in other words, you can think of the retirement plan as some type of benefit that you're going to receive after the point of retirement for work we did during the time period that we work. So what we're really doing is deferring.