had a job interview the other day where they mentioned that i would get a pension that was vested in 10 years if i was selected for the job
wtf does a pension being vested mean? and whats the different between a pension and something like a 401k that makes people like pensions more?
In: Economics
so vested in 10 years means you gotta work there for a decade to keep the pension money if you leave before that you lose it. pensions are cool cause they usually have a guaranteed payout for life while a 401k just depends on how much you save and invest. so basically it’s free money if you stick around long enough. that’s some motivation to chill at the job for a while
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