No, a 401k is not a pension. A pension guarantees a certain amount at specified dates while a 401k is a way of purchasing securities for you to manage your own

No, a 401k is not a pension. A pension guarantees a certain amount at specified dates while a 401k is a way of purchasing securities for you to manage your own retirement and is subject to the returns of your investment choices. In other words, a pension is a guarantee of future income in which the pension offerer is on the hook to ensure they have the funds to deliver the pension while the 401k pushes all that responsibility on to you. My wording is probably off on some of that so an article like this one is probably helpful to flesh out the details: https://www.fool.com/retirement/2018/06/13/whats-the-difference-between-a-pension-and-a-401k.aspx https://www.fool.com/retirement/2018/06/13/whats-the-differe...