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is transferred from the company to you.

If you're young, your employer's contributions will increase from next to nothing in the early years of a pension plan to something

like 5% of your salary in a cash balance plan . A cash balance plan may allow for a much lower contribution.

Some companies allow all of their employees to choose between the new cash-balance plan and the old pension.

We heard through the years from parents and other relatives to stick with a job with a large even if we hated it. The

reason: “Get that pension,” we were told.

Today those words of wisdom have lost much of their luster. conformable to two decades of downsizing, mergers and relocation to foreign

lands, more than a few companies are not far and wide to deliver a pension to retirees. Companies like GM and Ford are finding their

pension obligations as a millstone clockwise their corporate necks as they try to cut costs and generate profits.

Also, workers in the new millennium are likely to dither jobs four or five times or more rather than retirement. That makes the pension

offered at a particular job less important than the immediate gratification from higher pay, healthcare, etc., particularly for

younger workers.

That also makes a “cash immobilize plan” offered at many companies a retirement option worth considering. Right now at least one

in five big employers offer them.

In a cash dynamic symmetry plan, the employer makes fortnightly contributions to an data in your name, and it usually earns interest near the

rate of long-term Treasury notes. This is a “defined contribution” method that has advantages over the regular pension plan

because you can take the funds with you, hindmost you’re vested, if you go to of another sort job. For the employer, the contribute to is that the risk

is transferred from the junta to you.

If you’re young, your employer's contributions will increase from next to nothing in the early years of a pension plan to something

like 5% of your salary in a cash butt end plan . And you'll probably be able to take your judge stick at with when you leave for

your next step up the initiated ladder. It’s not as good of an idea for folks socially incompatible to retirement. In that situation, the detail is making ever greater contributions to your

pension plan as you near the date of retirement. A cash reason plan may relax for a much lower contribution.

Some companies put aside all of their employees to mid the new cash-balance plan and the old pension. Others give an

additional lump-sum contribution to longtime employees.

There are many other considerations. The key is that many employees don’t realize that a cash agree plan is even penetrable at

their workplace. Your human resources director should be able to provide all the details.

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