Yikes. Not here. There’s a state pension plan for Uni/teachers and state employees…even the IT guys.
It’s maintained by the State…and does quite well. They tired to do the 'shift to 401K …but they’d have none of it. The state employees and senate and house are also on the plan.
It’s a pension so unlike a 401K…you get X amount a month based on your pay in for LIFE when you get old enough to tap it. So, it’s not like a tax free deferred savings account
And it’s run by guys that invest the money and if the stock market does well, your pension might go up.
