What is a Defined Contribution Plan? Pensions in 2020

By |2020-05-03T01:22:17-04:00May 3rd, 2020|Retirement Accounts|1 Comment

What is a Defined Contribution Plan? And What Are The Odds of Securing a Pension in 2020 A defined contribution plan is essentially just a fancy way of saying a 401(k) plan. It’s called a defined contribution plan, in comparison to the combined benefit plan, which is essentially just a pension, in that tribute the full amount that you get to keep your retirement. If you’ve ever wondered why and how employers usually match your 401(k) up to 6% of your [...]