Employee pension plan

If you have a defined benefit employee pension plan provided by your employer in the United States, you are one of the lucky ones in that these plans are not offered as often as they used to be.  In recent decades a shift has occurred in the retirement plan landscape away from traditional defined benefit pension plans and toward what are known as defined contribution plans, specifically 401K and 403B plans.  This has resulted in the risk related to funding retirement being shifted from having been borne by the employer to being borne by the employee.  If you are of the relatively few who still has a defined benefit plan, this article will explain some of the basic things you should know related to planning your retirement as relates to your pension plan.