Pension
What is a pension?
A pension is a type of retirement plan that provides a regular income to a person after they stop working, usually after reaching a certain age.
What is 401k?
401(k) is a retirement savings plan offered by many employers
401K Provide a guaranteed monthly income stream for life based on a formula that often considers factors like years of service and salary TRUE or False
false
What kind of jobs offer pensions
Teachers, Nurses and local government workers and union worker
what kind jobs offer 401k
Customer service
Do pensions get taxed? True or false
True
How does living longer affect pensions?
through the need to stretch retirement savings and the increased strain on pension funds that offer lifetime benefits
What can help you select a 401k investment?
betterment
How long does a pension last?
A pension typically lasts for the retiree's lifetime, providing a stream of income until their death.
What happens to your pension if your pension company that you invest your retirement money into goes bankrupt?
Defined contribution pension assets are generally protected by the pension provider and a defined pension benefit may insure some benefits.
What percent of private employers offer 401k plans ?
94%
94%
What is a good monthly pension payment? 70-80% of your pre-retirement income.
70-80% of your pre-retirement income.
the longer you live the more pension benefits you receive True or false
True
At what age can you take your out money from your out money from your 401k with no early withdrawal fee?
55