Retirement Plans
A defined benefit plan, most often known as a
pension, is a retirement account for which your employer ponies up
all the money and promises you a set payout when you retire.
A defined contribution plan, like a 401(k) or
403(b), requires you to put in your own money.
Annuity: An annuity is a contract between you
and an insurance company in which you make a lump sum payment or
series of payments and in return obtain regular...