Planning Your Retirement: Pension Plans

What is a (traditional) pension plan? (The Balance)

• Defined-Benefit vs. Defined-Contribution Plan: What's the Difference? (Investopedia)
  "These key differences determine which party—the employer or employee—bears the investment risks and affects the cost of administration for each plan."
• How Is a 401(k) Different From Pensions? (The Balance)
• Lump Sum Payment or Annuity
  Some employers allow you to take your pension as a one time payout rather than a guaranteed income over time. Which should you choose?
  • Pension Lump-Sum Payouts and Your Retirement Security (CFPB)
  • Should You Take Your Pension as a Lump Sum? (pensionrights.org)

Pension Benefit Guarantee Corporation (PBGC)

The federal agency which protects private sector defined benefit plans.

FAQs for Workers and Retirees