Wow, you don't have pensions very often in America? Mind if I ask what alternatives you have, or if you are just paid your pension in cash for you to spend as you please.
They went away along with the idea that working at a company for 20-35 years was a thing that people were likely to do.
Part of the recent liberal reforms of the Obama era is the SIMPLE 401(k) plan, a method for many small businesses to offer a retirement account.
It includes:
A matching contribution up to 3% of each employee’s pay, or
a non-elective contribution of 2% of each eligible employee’s pay.
If you establish a SIMPLE 401(k) plan, you:
Must have 100 or fewer employers.
Cannot have any other retirement plans.
Need to annually file a Form 5500.Welcome to America!