Question: What is the main difference between the 401(k)-type, e.g. defined contribution plans, vs. traditional pension plans, e.g. defined benefit plans? Which type of retirement plan

What is the main difference between the 401(k)-type, e.g. defined contribution plans, vs. traditional pension plans, e.g. defined benefit plans? Which type of retirement plan do you prefer and why? What type of retirement plan do you have at your place of employment?

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