Pension vs 401k – What is a Pension vs 401k? 1-800-566-1002 . What are the best types of differences between a pension and a 401k and learn how you can avoid the most common mistakes that individuals have made when trying to leverage pension vs 401k plans for retirement. Difference Between a Pension vs 401k The difference between a pension and 401k plan is based on the amount of control the retiree is looking for. Pensions are defined benefit plans and 401Ks are defined contribution plans. 401K plans are employer sponsored, which means you sign up for the plan through your employer and your account is handled through them. You are typically offered a few choice plans on how you will invest your money, which does take some of the control out of your investments, but some people like how this simplifies the process for them. The biggest advantage of one of these plans is that many employers will offer you a company match up to a certain percentage. So, for instance, if y
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