Could someone please clarify what the difference between Employer Contribution and Benefits Paid is conceptually and/or formulaically? Thanks!
Employer contribution is the contribution the employer makes into the pension so that they can have a asset that will pay out later to their employees.
The benefit paid is the withdraws from the pension plan that are paid to the employees that are retired and due their promised payment.
These two are totally different things. You can sort of view a contribution as a deposit into the plan and benefits paid as a withdrawal from the plan.