401(k) plans let you contribute pre-tax earnings, reducing taxable income now in exchange for taxable withdrawals. Defined contribution plans come in varieties like 403(b), 457, and Thrift Savings ...

Defined benefit plans guarantee a fixed payout, usually based on salary and years of service. Employers bear the investment risks and are responsible for funding these plans. Defined benefit plans ...

*For individuals who attain 60-63 in 2025, the catch-up contribution limit is increased to $11,250 for most 401(k), 403(b), governmental 457(b) plans, and SEPs, and $5,250 for SIMPLE plans.

A pension is a workplace benefit that pays qualified retirees a lifetime income. Very few private employers offer pensions nowadays, and most have shifted to defined contribution plans such as 401 ...