> Today, very few workers still have pensions
I've never seen a professional job that didn't include a pension - certainly not in the tech industry.
I've never seen a professional job that didn't include a pension - certainly not in the tech industry.
Pensions are defined benefit. That is, it is specified exactly how much money you will receive in retirement.
A 401K retirement plan is not a pension. You save your own money and possibly an employer contribution, and you make your own investment decisions. The value goes up and down in accordance with what you invested in.
Are we both talking about https://en.wikipedia.org/wiki/401(k)?
"In the United States, a 401(k) plan is the tax-qualified, defined-contribution pension"