In general, "defined contribution" refers to contract terms of periodic variable payments into an Employer Sponsored Retirement Plan, such as a 40*(*), or tax sheltered investment fund. So far as I know, these types of tax-sheltered, deferred compensation schemes do not warrantee cumulative value of funds available or amount or periodicity of distributions at date of retirement. Here is an informative source. Scroll to the table near the bottom of the window.

Death benefits to be paid under a 403(b) plan depend on when death occurs and who is the designated beneficiary [surviving spouse or other] on the plan. The Internal Revenue Code states that distributions generally must be made from a 403(b) plan by the participants required beginning date, which is April 1 of the year following the year in which the participant attains age 70 1/2. Different rules apply to death benefits depending on whether or not death occurs before the required beginning date.

Distributions must liquidate the account. And these are taxable as ordinary income. Here is important advice about limitations on survivor interest in ESRP and other annuity product distribution.

MRD stands for "minimum required distribution." The Internal Revenue Code established these minimums to ensure that you actually use your Employer Sponsored Retirement Plan account balance for retirement (and not, for instance, to pass onto your heirs). ... If you do not take an MRD from your retirement account each year, the Internal Revenue Code imposes a 50% penalty tax on the amount that should have been withdrawn in each calendar year. This tax is in addition to regular income taxes.

"Defined benefit" refers to contract terms of periodic fixed payments from an tax-sheltered annuity (TSA) fund, such as a pension, the value of which is guaranteed irrespective of investment performance over the life of contributions.

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