Pension Is Dead Is 401K Next
401k plan: The plan was introduced in 1978 and the private sector welcomed it with open arms. It was presented as a substitute but soon replace the pension.The 401k is a defined-contribution plan that allows the employees to save their retirement funds as the pre-tax amount is deducted from their paycheck to contribute to the plan. It also frees the employers of their financial obligation. Although an employer can make a limited matching contribution of 50 percent of the contribution made by the employee....