How to choose a multiemployers pension: What you need to know
With the advent of a new generation of workers coming into retirement, many multiemployor pension plans have been struggling to adapt to the changing nature of work, as well as the rising cost of living.
While the average US worker is now expected to retire with a 401(k) or 403(b) plan, many employers still opt for a traditional pension plan, or traditional pension, rather than an indexed plan with defined contribution.
That’s because defined contribution plans are more expensive and the costs of contributions and benefits are higher.
With that in mind, here’s a look at the most important aspects of a multiyear, indexed plan and what you need in order to save for retirement.Read More