A traditional defined-benefit pension promises a set monthly income for life that is based on a formula tied to your salary and years of service. The Delta MBCBP is a hybrid known as a cash balance plan — it credits a notional account with investment returns and receives contributions when 401(k) limits are exceeded. Unlike a traditional pension, the MBCBP accumulates a balance you can see, and most pilots take a lump-sum distribution rather than a monthly annuity. The investment risk in the MBCBP is borne by Delta, not you, which distinguishes it from a 401(k) but makes it less flexible in terms of investment control.