Pension & 401(k)
Whether you have a pension, a 401(k), or both, FESA will help you
receive the highest monthly check while paying the least in taxes.
Pension & 401(k)
Defined Benefits (DB)
A defined benefit plan is a type of pension plan in which an employer/sponsor promises a specified pension payment, lump-sum (or a combination thereof) on retirement that is predetermined by a formula based on the employee’s earnings history, a tenure of service and age, rather than depending directly on individual investment returns.
Defined Contributions (DC)
A defined contribution plan is a type of retirement plan in which employer, employee, or both make contributions on a regular basis. Individual accounts are set up for participants and benefits are based on amounts credited to these accounts (through employer contributions and, if applicable, employer contributions) plus any investment earnings on the money account. In defined contribution plans, future benefits fluctuate on the basis of investment earnings. The most common type of defined contribution plan is a savings and thrift plan. Under this type of plan, the employee contributes a predetermined portion of his or her earnings (usually pretax) to an individual account, all or part of which is matched by the employer.
A 401(k) plan has grown to be the most popular type of employer-sponsored retirement plan in America. Millions of people are dependent on their 401(k) plans for their retirement years.
Thrift Savings Plan (TSP)
The Thrift Savings Plan (TSP) is a retirement saving and investment plan for Federal employees. The purpose of the TSP is to provide retirement income. The TSP offers Federal employees the same type of savings and tax benefits that many private corporations offer their employees under 401(k) plans.