As companies continue to phase out defined pension plans for an ever increasing number of workers, the 401k has become the cornerstone of many American workers» retirement plan. (treesfullofmoney.com)
A bit of background information, I currently have a pretty good defined pension plan with my employer, above average salary and ability to contribute to savings, high earning potential, and a low cost... (money.stackexchange.com)
But Sears is hardly unique: 30 % of similar defined pension plans in Ontario are also underfunded, which shows the importance of keeping an eye on the funding status of your pension plan. (moneysense.ca)