Overall, if you guys had to pick what do you think is more advantageous; a pension plan or a 401k.?

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  • 1 decade ago
    Favorite Answer

    I would kill my mother for a pension plan. I pity the fool who would take a 401k in favor of the good old pension plan. A pension plan pays till death a 401k plan pays until it runs out, and then you are **** out of luck buddy without a paddle. Why do you think companies got rid of pensions, do you think they were doing us a favor by telling us that they were no longer going to foot the bill for our poor retirement planning?

    A little history lesson for you, do you know where the name 401k came from? Most people who think they are educated will say "Oh, it's the section of the tax code that refers to this type of plan" but no my friend they would be wrong........dead wrong. Here is the ugly truth as only I can tell it.

    In 1977 my father was denied his pension by a large company, I won't name names. My father asked "don't you care about me?"

    the replied "No! We don't care about you!", my father queried "Then who do you care about?" to which they responded

    "For(4) n0 one(1).... oK!?!". In 1979 this was shortened to 401K. And that's the bottom line.

    Source(s): Just believe it.
  • Big R
    Lv 6
    1 decade ago

    No brainer, 401k. You control your own destiny. A pension plan can be raided or mismanaged. A 401k is your own. You can decide when and how much you need. You can will it to heirs. Take the time to learn how to invest and you can retire relatively young and rich with a 401k. One of the best things the government has ever done.

  • 1 decade ago

    Pension plans can be scaled down legally and 401Ks can be raided illegally. I'd go with a Roth IRA if your company controls your 401K or forces you to buy company shares.

  • Gem
    Lv 7
    1 decade ago

    A government pension plan because the money they steal from the rest of us taxpayers will cover it.

    If not a government worker, than a 401k plan, as that is my money and cannot be taken away from me by bankruptcy or loss. Just divorce.

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  • 1 decade ago

    I'd go with the 401k, it is yours to keep and it won't go away if the company decides to default on it pension plan or if it goes out of business.

  • 1 decade ago

    Good luck on that!

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