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  2. Pension - Wikipedia

    en.wikipedia.org/wiki/Pension

    A pension (/ ˈ p ɛ n ʃ ən /; from Latin pensiō 'payment') is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work.

  3. Defined benefit pension plan - Wikipedia

    en.wikipedia.org/wiki/Defined_benefit_pension_plan

    A defined benefit plan is 'defined' in the sense that the benefit formula is defined and known in advance. Conversely, for a "defined contribution retirement saving plan," the formula for computing the employer's and employee's contributions is defined and known in advance, but the benefit to be paid out is not known in advance. [2]

  4. Retirement plans in the United States - Wikipedia

    en.wikipedia.org/wiki/Retirement_plans_in_the...

    Retirement plans are classified as either defined benefit plans or defined contribution plans, depending on how benefits are determined.. In a defined benefit (or pension) plan, benefits are calculated using a fixed formula that typically factors in final pay and service with an employer, and payments are made from a trust fund specifically dedicated to the plan.

  5. Six Best Calculators for Figuring Out Your Retirement Strategy

    www.aol.com/news/2011-01-25-six-best-calculators...

    Part of planning for retirement is a math exercise -- figuring out how much money you have, how much you need and how to best save enough to build a big enough nest egg before you hang up your ...

  6. Can I Cash Out My Pension When Leaving a Job? - AOL

    www.aol.com/cash-pension-leaving-job-141134422.html

    A financial advisor can help you plan for Social Security and figure out how much income you’ll need to generate in retirement. Finding a financial advisor doesn’t have to be hard. Finding a ...

  7. 6 Factors That Impact the Size of Your Social Security Check

    www.aol.com/6-factors-impact-size-social...

    The SSA docks you 5/9 of 1% for every month up to 36 months that you claim before your full retirement age, which is 67 for those born in 1960 or later. You lose 5/12 of 1% every month after 36 ...

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