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The retirement payment is based on the employee's work history, age, and earnings, rather than on investment returns.
by garciasn 2y ago
The retirement payment is based on the employee's work history, age, and earnings, rather than on investment returns.
- ghaff 2y agoRight. And there are some (fairly significant) protections these days. Learned recently that my pension which was farmed out to an outside benefits company at one point is now being farmed out to an insurance company TBD. I'm not especially concerned. The risk seems fairly low and I'm not really dependent. But this is the plus and minus of defined benefits versus something like a 401(k).