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Brown Cafe UPS Forum
UPS Retirement Topics
Pension letter
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<blockquote data-quote="Ms.PacMan" data-source="post: 2052450" data-attributes="member: 4656"><p>Definition of pension plan as defined by Investopedia</p><p></p><p>DEFINITION of 'Pension Plan' A type of retirement plan, usually tax exempt, wherein an employer makes contributions toward a pool of funds set aside for an employee's future benefit. The pool of funds is then invested on the employee's behalf, allowing the employee to receive benefits upon retirement.</p><p></p><p>Definition of 401k as defined by the IRS</p><p></p><ol> <li data-xf-list-type="ol"><br /> <strong>401(k</strong>) Plan is a <strong>defined</strong> contribution plan where an employee can make contributions from his or her paycheck either before or after-tax, depending on the options offered in the plan. The contributions go into a <strong>401(k</strong>) account, with the employee often choosing the investments based on options provided under the plan.</li> </ol></blockquote><p></p>
[QUOTE="Ms.PacMan, post: 2052450, member: 4656"] Definition of pension plan as defined by Investopedia DEFINITION of 'Pension Plan' A type of retirement plan, usually tax exempt, wherein an employer makes contributions toward a pool of funds set aside for an employee's future benefit. The pool of funds is then invested on the employee's behalf, allowing the employee to receive benefits upon retirement. Definition of 401k as defined by the IRS [LIST=1] [B]401(k[/B]) Plan is a [B]defined[/B] contribution plan where an employee can make contributions from his or her paycheck either before or after-tax, depending on the options offered in the plan. The contributions go into a [B]401(k[/B]) account, with the employee often choosing the investments based on options provided under the plan. [/LIST] [/QUOTE]
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