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Forum » Is a 401k a pension scheme?
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Thread: Is a 401k a pension scheme?

post 1681997363 05-03-2023, 07:22 PM
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  1. Vascularmanlet
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Is a 401k a pension scheme?

Everytime I read this on the misc I thought it meant miscers claiming they make 401k a year lmao.

So to clear things up, me working on the railway I have two 401k’s pension plans which I can decide how much I put in/invest which I’ll get when retired.

I believe the UK equivalent to this is called a SIPP or as we call it in the railway BRASS scheme.
post 1681997453 05-03-2023, 07:23 PM
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No shtt

a scam the US gov uses to take from businesses and you

most americans will die before retirement
HTC is too skinny for me. Fat Girls only crew. serious
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post 1681997673 05-03-2023, 07:25 PM
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it is just someone else using your money to make money for themselves while giving you meegar percentages.

but we should be grateful.

oh and taxes. don’t give a chit if it is roth or not, you never know how much money you have access to because when you do pull it, they throw in fees and taxes left and right. You literally don’t know how much of that money is yours until you pull it.
“The stories and information posted here are artistic works of fiction and falsehood. Only a fool would take anything posted here as fact.“

PS: Don't eat poop, just don't let the idea of it stop you from living life to its fullest.
post 1681997703 05-03-2023, 07:26 PM
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sucks that you cant deallocate to cash and therefore serve as a buffer for the jews to unload their bags on you.
post 1681997753 05-03-2023, 07:27 PM
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  1. pengh
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Probably. But I'm already 15 years in. Gains have been decent tho the last year with everything else going on.

Feels better than some of my bitcoin bros
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post 1681997953 05-03-2023, 07:31 PM
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its a government scam so you have to pay for yourself as you slowly die and not them. also in the high chance you become senile and need someone to take care of it they will get first dibs on it unless you named someone. and than they will just give you the least amout of care so they can keep the monies for themselves(named person or gubment).

YOLO! and live in debt boyo
post 1681997973 05-03-2023, 07:31 PM
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401k and pension are 2 different things
post 1681998223 05-03-2023, 07:36 PM
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Originally Posted By HateLiberals⏩
401k and pension are 2 different things
This. You control how a 401k is invested, whereas an employer controls how a pension is invested. Pension will likely be lost if you leave the company or it dissolves prior to your retirement. 401k is your money. I don’t think you can contribute to a pension, whereas you definitely can for 401ks, and often an employer will match your contributions up to a certain percentage.
See SuperHercules' sig
post 1681998413 05-03-2023, 07:40 PM
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As long as it's matching 100% I see nothing bad about it
post 1681998563 05-03-2023, 07:42 PM
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Originally Posted By PShift5⏩
As long as it's matching 100% I see nothing bad about it
who tf is matching 100%?

Companies offer that?


mine matches up to 4%
“The stories and information posted here are artistic works of fiction and falsehood. Only a fool would take anything posted here as fact.“

PS: Don't eat poop, just don't let the idea of it stop you from living life to its fullest.
post 1681998803 05-03-2023, 07:49 PM
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Originally Posted By Ironmanlet⏩
who tf is matching 100%?

Companies offer that?


mine matches up to 4%
Lol… they match 100% of your contribution up to 4% of your salary. But some match different percentages of your contributions up to different percentages of your salary.
See SuperHercules' sig
post 1681998953 05-03-2023, 07:51 PM
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Originally Posted By ShakeBrah⏩
Lol… they match 100% of your contribution up to 4% of your salary. But some match different percentages of your contributions up to different percentages of your salary.
oh man, my bad.

I thought for a second that meant if I put in 100% of my salary they would match up to that.


I was offended.
“The stories and information posted here are artistic works of fiction and falsehood. Only a fool would take anything posted here as fact.“

PS: Don't eat poop, just don't let the idea of it stop you from living life to its fullest.
post 1681999283 05-03-2023, 07:59 PM
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Originally Posted By Ironmanlet⏩
oh man, my bad.

I thought for a second that meant if I put in 100% of my salary they would match up to that.


I was offended.
Lol yeah, it’s a little confusing. I had an old employer that did 100% up to 3%, and then 50% up to 5%, which is effectively them contributing 4% if you contribute 5%.
See SuperHercules' sig
post 1681999593 05-03-2023, 08:03 PM
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Originally Posted By ShakeBrah⏩
Lol yeah, it’s a little confusing. I had an old employer that did 100% up to 3%, and then 50% up to 5%, which is effectively them contributing 4% if you contribute 5%.
that is what mine does. 100 for the first three and then 50 for the next two.


I just contribute a bit more than that and thought I was missing out. I was about to kick my bosses desk over lol.


I guess that makes sense as many people may only be able to do 3 or 4 percent, so they can save a little there.
“The stories and information posted here are artistic works of fiction and falsehood. Only a fool would take anything posted here as fact.“

PS: Don't eat poop, just don't let the idea of it stop you from living life to its fullest.
post 1682000003 05-03-2023, 08:09 PM
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We call it an RRSP here in Canadaland
post 1682000253 05-03-2023, 08:12 PM
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Originally Posted By Ironmanlet⏩
that is what mine does. 100 for the first three and then 50 for the next two.


I just contribute a bit more than that and thought I was missing out. I was about to kick my bosses desk over lol.


I guess that makes sense as many people may only be able to do 3 or 4 percent, so they can save a little there.
Yeah, it’s a little shady IMO. They can kinda say they match up to 4%, but you have to contribute another 1%. I think a standard is just matching 100% up to 4%.
See SuperHercules' sig
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