Saving For Retirement: Pension Plans?

By Patricia Uceda, Spring 2015 Graduate Research Assistant

While they may seem like a thing of the past, if your employer offers a pension plan you should consider taking advantage of it.  With a pension plan, your employer makes contributions that you can use in the future for retirement.  Plans can either be defined benefit plans, where you are guaranteed a certain amount when you retire or a defined contribution plan where you receive funds upon retirement based upon how your employer’s investments fare.