403(b) vs. 401(k) Benefits: What You Absolutely Need to Know
<p>Until the 1980s, most employees could count on “defined-benefit” (DB) pensions. <a href="https://www.cnbc.com/2021/03/24/how-401k-brought-about-the-death-of-pensions.html" rel="noopener ugc nofollow" target="_blank">That all changed</a> with the advent of the 401(k) and other “defined-contribution” (DC) plans, created by a 1978 legislation.</p>
<p>In DB plans, it was up to the employer to figure out how many years employees would collect pension payments, how high those payments would be (based on years of service and last salary), and how to invest to generate those payments.</p>
<p>Retirees’ payments would start showing up on time, in the correct amounts, guaranteed for life, with zero market risk.</p>
<p><a href="https://themakingofamillionaire.com/403-b-vs-401-k-benefits-what-you-absolutely-need-to-know-2254390a185f"><strong>Read More</strong></a></p>