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Reply to "Is a pension all it’s cracked up to be?"
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[quote=Anonymous]Pension means the employer takes on all the risk - meaning the risk the market does not do well, and the risk you live longer than expected. Our office includes two senior employees on a pension plan. Everyone else is on a 401k to which other em oyer contributes 8% of salary. Although the pension employees' salaries are about $10k lower than that of our director, their full personnel cost is about $30k higher because they are on the pension plan and the director is on the 401k. The amount budgeted for pension benefits is based on an actuarial calculation.[/quote]
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