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Reply to "What's so great about a pension?"
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[quote=Anonymous][quote=Anonymous]OP here. Thanks for the info. Nobody I know has or had I pension so why would I know (or care to know) about them? I asked my SIL and she has the defined contribution plan which is not guaranteed income for life. Doesn't sound like such a great deal. It sounds like any other 401k. [/quote] It's pretty clear that neither you nor your SIL know what you're talking about. The confusion problem comes from the fact that many Government employees have both a defined benefit and a defined contribution plan (i.e., a pension and a 457 plan).[/quote]
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