In this episode, we define pension plans and the difference between a defined benefit plan and a defined contribution plan. We also touch on the reasons why most employers are phasing out the traditional pension plan.
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▬ Episode Resources & Links ▬▬▬▬▬▬▬▬▬▬
How State-Sponsored Retirement Plans Could Help Your Employees Retire
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DOL Retirement Plans and ERISA Compliance FAQ
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The Benefits of a 401(k)
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Benefits Administration Made Easy
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▬ Contents of this video ▬▬▬▬▬▬▬▬▬▬
00:00 What Is a Pension Plan?
00:34 The Difference Between a Pension Plan and a 401(k)
01:14 How are pension benefits decided?
03:25 How Pension Funds are Managed
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