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Reply to "What's so great about a pension?"
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[quote=Anonymous]Pension= defined benefit. Unless the company goes bankrupt you are guaranteed a portion of your salary for life. If I stay 30 years at my organization, I will get 80% of my salary. I consider this part of my compensation. 401k= defined contribution. No guarantee the money will be there when you retire. If you recall in the aughts, many people lost their retirement because their 401ks were invested in company stock. Stock market crash = nothing left in 401k[/quote]
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