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Job offers and payoff decisions

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Suppose you have two job offers to consider. They are pretty much the same, though one (e.g., from a state government) offers a "defined benefit" pension plan whose payoff reflects your salary and years of service when you retire or otherwise leave the company. The other company offers a 401K plan. Which do you prefer, and why? Do the events of the most recent three years affect your decision (how)?

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Suppose you have two job offers to consider. They are pretty much the same, though one (e.g., from a state government) offers a "defined benefit" pension plan whose payoff reflects your salary and years of service when you retire or otherwise leave the company. The other company offers a 401K plan. Which do you prefer, and why? Do the events of the most recent three years affect your decision (how)?

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In this situation, it would really depend on whether the 401(k) offered was matched by the employer. If there was a matching program, I would take the 401(k) since the defined benefit may be very little ...

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