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2. 401(k) - Wikipedia

   en.wikipedia.org/wiki/401(k)

   In the United States, a 401 (k) plan is an employer-sponsored, defined-contribution, personal pension (savings) account, as defined in subsection 401 (k) of the U.S. Internal Revenue Code. [1] Periodic employee contributions come directly out of their paychecks, and may be matched by the employer. This pre-tax option is what makes 401 (k) plans ...

3. A complete guide to 401(k) retirement plans: What is a ... - AOL

   www.aol.com/finance/complete-guide-401-k...

   Unlike traditional pension plans, in which the employer promises a specified monthly benefit at retirement, 401 (k) plans are funded by contributions deducted directly from the employee’s ...

4. History of retirement - Wikipedia

   en.wikipedia.org/wiki/History_of_retirement

   History of retirement. Retirement, or the practice of leaving one's job or ceasing to work after reaching a certain age, has been around since the 18th century. Retirement as a government policy began to be adopted by countries during the late 19th century and the 20th century. [1]

5. Retirement plans in the United States - Wikipedia

   en.wikipedia.org/wiki/Retirement_plans_in_the...

   Types of retirement plans. Retirement plans are classified as either defined benefit plans or defined contribution plans, depending on how benefits are determined.. In a defined benefit (or pension) plan, benefits are calculated using a fixed formula that typically factors in final pay and service with an employer, and payments are made from a trust fund specifically dedicated to the plan.

6. What's the difference between a pension and a 401k? - AOL

   www.aol.com/whats-difference-between-pension-401...

   In 1996, the Pension Protection Act permitted the automatic enrollment of workers into 401(k) plans, with target-date funds allowed as a default investment option. Today, more than 50 million ...

7. Did 401(k)s Replace Pension Plans? (& Which Is Better ... - AOL

   www.aol.com/did-401-k-replace-pension-105700511.html

   A pension plan is a different kind of retirement savings plan in which a company sets money aside to give to future retirees. Over the past few decades, defined-contribution plans like the 401 (k ...