401(k) Plans Costlier Than Pensions
This is a news story, published by Yahoo Finance, that relates primarily to the National Institute on Retirement Security news.
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pension plansSmartAsset
•Pensions vs. 401(k)s: Why Employers Might Choose the Traditional Route
82% Informative
A new study from the National Institute on Retirement Security suggests that pension plans may actually cost employers less than 401(k) plans.
The study found that in order to replace 54% of income for employees after retirement, a DB plan required contributions of 16.5% of total payroll.
A pension plan works by having money contributed to a pool by both the company and employees who are enrolled in the plan.
An emergency fund should be liquid -- in an account that isn't at risk of fluctuation like the stock market.
The tradeoff is that the value of liquid cash can be eroded by inflation.
A high-interest account allows you to earn compound interest.
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