Who here has a pension plan and where do you work. Is pension what it's cracked to be or limiting?

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It is the greatest thing since wheel was invented

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It depends on whether it is a defined contribution pension or a defined benefit pension. Read your disclosure to find out.

If the verbiage is “you’ll get XX% of base pay for life after XX years” that’s defined benefit and incredibly rare nowadays.

If the verbiage is “we’ll contribute X% of your pay based on years of service + age and it grows at X% rate based on treasury rates” that’s defined contribution and is essentially a locked return 401k account.

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