Tag: defined contribution plan
![older couple with advisor discussing finances](https://crr.bc.edu/wp-content/uploads/2022/12/older-couple-with-advisor-discussing-finances.jpg)
Retirees have long been reluctant to spend the money they’ve accumulated in their 401(k) savings plans. But it also used to be common for retirees to have a traditional pension to cover their regular expenses. By the time the baby boomers came along, pensions were available to a dwindling minority of workers, and it isn’t…
![happy older couple looking onward](https://crr.bc.edu/wp-content/uploads/2022/12/happy-older-couple-looking-onward.jpg)
Retirement for workers in state, county and municipal government fits a certain picture: a regular monthly pension payment awaits them. But there are important exceptions, which a recent study has filled in. A small minority of public sector workers get some or all of their retirement benefits in the form of a one-time cash payment…