Human Growth and Development / Unit 16 HGD 2283 short lesson, about 20 seconds
Pensions and 401(k) Plans
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The idea
A pension plan is an employer-managed fund paying guaranteed lifetime income, the employer bearing the investment risk; it predominated until the nineteen seventies.
In practice
A four-oh-one-k plan, created under a nineteen seventy-eight tax law: employee-funded, portable between jobs, with no guaranteed income.
Where people slip
Nearly half the US workforce lacks an employer plan; the course defines the plans and gives no financial advice.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
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