Can you have a pension and 401k from your employer?

Yes, it's possible. Pension is what you get as part of your employment service base on years with the company, that is if your company offers it. Refer to your pension manual. It isn't a fun read but a informative one. The 401k is entirely up to you if you wish to participate. read more

Pension is what you get as part of your employment service base on years with the company, that is if your company offers it. Refer to your pension manual. It isn't a fun read but a informative one. The 401k is entirely up to you if you wish to participate. However, if you can, I suggest participating because you'll be surprise how fast one can accumulate via automatic deduction. Moreover, if your 401k offers matching contribution don't pass up on it because it's free money. read more

Defined benefit plan (pension plan that pays a retirement benefit spelled out in the plan) and you are eligible to participate for the plan year ending with or within the tax year. Box 13 on the Form W-2 you receive from your employer should contain a check in the “Retirement plan” box if you are covered. read more

Breaking ties with an old job is often enjoyable, sometimes bittersweet, and other times just plain bitter. If you have a defined benefit pension, breaking ties can also be complicated. read more