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A pension is a retirement-savings plan, typically employer-funded, that gives you regular payments in retirement. A 401(k) is a workplace retirement plan that gives employees a tax break when...
The best retirement savings plan for you depends on your situation. If you want more control over how your money is invested and the ability to take it with you if you leave your job, a 401(k) plan might be the better option.
A 401(k) is a long-term savings plan funded by deductions from employee paychecks. Some employers match these contributions. A pension plan is primarily funded by the employer.
What is a 401(k)? In contrast, with a 401(k) retirement savings plan, or defined contribution plan, the onus is on you — the employee — to set aside money for your Golden Years via regular ...
A pension guarantees you retirement income, while a 401(k) plan depends on your own contributions and investments. If you’re lucky enough to be deciding between these two retirement options ...
Both employees and employers can contribute to 401 (k) plans, which come with tax advantages. Unlike a pension, a 401 (k) provides no guarantee that workers will have a...
A 401(k) is primarily for retirement savings, while a brokerage account can be used for various financial goals and often offers more control over the investments.