zlacker

>>toomuc+(OP)
Read somewhere that they get 12% match on 401k. No pensions, but there’s almost none of that in today’s world.

>>pixela+y3
Pensions seem nice to have, but IMHO, it's generally better for employer and employee when compensation is paid immediately. The accounting is simpler, accountability is easier, and there's no long term entanglements.

>>toast0+F5
Technically a pension is a trust that is independent from the employer. Its duties are to hold the shareholders (employees) funds. The issue is that the trustees is most likely the employer. So in the event of a employer insolvency, the pension is not affected by.

>>yohann+c8
What usually happens is the trust is underfunded, and the company makes it up in real time. When the company goes under, the pension plan gets assigned to the federal government's Pension Guarantee Corporation and if your promised pension is above the guarantee amount and above the funded amount, you take a hair cut.

If you're lucky, you've been getting audit reports about the underfunded pension for years, so you could prepare, but you probably couldn't do anything about it.

If your employer had put the pension funding in a 401k account for you, you would know what you have, and be able to separate from the employer and not have to keep in touch to make sure they're holding their end of the bargain.