3 ms·
401k's aren't pensions. They're attached to the employee rather than the employer. Even if your employer goes bust, you still have an account with Vanguard/Fide
by umeshunni 7y ago
401k's aren't pensions. They're attached to the employee rather than the employer. Even if your employer goes bust, you still have an account with Vanguard/Fidelity etc that has your money.
- chrisseaton 7y ago> They're attached to the employee rather than the employer. Even if your employer goes bust, you still have an account with Vanguard/Fidelity etc that has your money Yes that's the way my pension works. It's still a 'pension'!
- justin66 7y ago> Yes that's the way my pension works. It's still a 'pension'! That's technically correct (for example, you'll see 401(k) accounts referred to as "pension" accounts on their wikipedia page) but people are so used to referring only to defined-benefit accounts as pensions in the United states that they will look at you funny if you call your 401(k) or IRA a "pension." As is virtually happening here.
- deleted 7y ago[deleted]