Respuesta :
Employer-sponsored retirement plans requiring a minimum length of 59.5 years of serving to participate
What is Employer-sponsored retirement?
- At the time of retirement, a defined benefit plan offers a fixed monthly benefit amount. Defined benefit plans, also referred to as pension plans, are sponsored by businesses that typically employ investment managers to manage accounts. In this form of arrangement, the employer assumes the risk.
- The guaranteed payment at retirement is not the same in a defined contribution plan. An illustration of a defined contribution plan is a 401(k).
- Both the employer and the employee contribute to these kinds of plans, frequently at a specified percentage of the employee's yearly pay. In this form of arrangement, the employee assumes the risk.
- Based on the value of investments, the account's overall worth will fluctuate. Employees get the account balance based on their contributions, plus or minus gains and losses from investments, after retirement.
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