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2. Defined contribution plan - Wikipedia

   en.wikipedia.org/wiki/Defined_contribution_plan

   A defined contribution (DC) plan is a type of retirement plan in which the employer, employee or both make contributions on a regular basis. [1] Individual accounts are set up for participants and benefits are based on the amounts credited to these accounts (through employee contributions and, if applicable, employer contributions) plus any investment earnings on the money in the account.

3. Defined benefit pension plan - Wikipedia

   en.wikipedia.org/wiki/Defined_benefit_pension_plan

   Defined benefit (DB) pension plan is a type of pension plan in which an employer/sponsor promises a specified pension payment, lump-sum, or combination thereof on retirement that depends on an employee's earnings history, tenure of service and age, rather than depending directly on individual investment returns. Traditionally, many governmental ...

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. 13 states that don’t tax your retirement income - AOL

   www.aol.com/finance/13-states-don-t-tax...

   Illinois charges a flat state income tax of 4.95 percent, but all retirement income is exempt from paying the tax. This includes pension payments as well as distributions from retirement plans ...

6. Ask an Advisor: I Have a Monthly Pension of $1,600 and ...

   www.aol.com/ask-advisor-680k-401-k-104500991.html

   When added to the income from your pension and your savings, you’re looking at a total annual pre-tax income of between $63,740 and $74,216. Next, I ran the same scenario, but assumed that your ...

7. Retirement Savings: 7 Money Moves To Avoid With Your Pension

   www.aol.com/retirement-savings-7-money-moves...

   Mohip added, “If the plan is to draw down income from the pension in retirement, it is best to calculate the math on prematurely withdrawing money or looking at a more liquid area of your ...