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What's the difference between a pension and a 401(k)?

Business Insider

Cover picture for the articleA 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.

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