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Money and Finances
Reply to "Pension plan or 401k?"
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[quote=Anonymous]OP - give more info about your pension. Is there a vesting schedule - such as 20 percent vested in year 2, 40 in year 3, etc? What is YOUR contribution and what is the payout formula (such as 1 percent x high 3 salary x years of service). What happens if you get canned in 10 years - will you still have access to 10 years of pension? The 8.5 percent of salary is a nice contribution on the 401k side. You can put in $17500 a year too. Give me more info and #'s and I can help you figure it out. [/quote]
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