Thursday, August 21, 2014
Pension Plan vs. 401K
This comes from a Teamster that has accumulated 8 years in a pension plan. Notice that he has accumulated close to $12,000 a year upon his retirement. Meaning that if he chose to stop working for this union carrier right now, he would get $12,000 a year once he meets requirements and decides to retire. This employee will keep putting more money into his pension and should he keep employed and get to a 30-year career he could retire with close to $40,000 a year coming in after retirement. How's that 401k looking now?????