In this episode, we define pension plans and the difference between a defined benefit plan and a defined contribution plan. We also touch on the reasons why most employers are phasing out the traditional pension plan.

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▬ Episode Resources & Links ▬▬▬▬▬▬▬▬▬▬

How State-Sponsored Retirement Plans Could Help Your Employees Retire
https://blog.bernieportal.com/how-do-...

DOL Retirement Plans and ERISA Compliance FAQ
https://www.dol.gov/sites/dolgov/file...

The Benefits of a 401(k)
https://blog.bernieportal.com/recruit...

Benefits Administration Made Easy
https://www.bernieportal.com/benefits...

▬ Contents of this video ▬▬▬▬▬▬▬▬▬▬

00:00 What Is a Pension Plan?
00:34 The Difference Between a Pension Plan and a 401(k)
01:14 How are pension benefits decided?
03:25 How Pension Funds are Managed

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