Retirement Resources

A retirement plan is usually part of the overall compensation and benefits package from an employer. Although modern employer-employee relationships favor transferable retirement programs such as 401K plans, many employers offer traditional pension programs or other guaranteed payout programs upon retirement.

In the mid-later part of the 20th century, employers began to offer retirement programs for their long-term employees. Guaranteed pension payouts were the most common form of compensation in the employment relationship. Most American companies today use the 401K program instead of guaranteed annuity or pension programs. 401K programs allow the employee to put aside money for retirement through an employer led financial program. The employer typically contributes a percentage of the worker's salary into the retirement account. 401K programs, 403B, and other flexible retirement savings account programs in general put the onus of retirement upon the employee. Savings are dictated by the employee's actions and willingness to put aside funds for retirement.

In the USA, the Social Security Administration also funds the retirement of American citizens. Although the age of eligibility and the question of funding have become recent political discussions, most consider Social Security payments to be an important part of planning for retirement.

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