What's the difference between a pension and a 401(k)?
A pension is a steady-income retirement plan that's funded in your working years by your employer. A 401(k) is a tax-advantaged plan funded with contributions from your paychecks. A 401(k) plan offers more personalized retirement savings, while a pension makes guaranteed payouts. Visit Insider's Investing Reference library for more stories.www.businessinsider.com