What Is a Pension? - The Balance
https://www.thebalancemoney.com/what-is-a-pension-and-how-do-you-get-one-2388766
WebJan 25, 2022 · A pension is a retirement plan that provides a monthly income in retirement. Unlike a 401 (k), the employer bears all of the risk and responsibility for funding the plan. A pension is typically based on your years of service, compensation, and age at retirement. 401 (k)s, qualified longevity annuity contracts, and IRAs can serve as alternatives ...
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