Hi r/personalfinance! Long-time lurker, first-time poster.
I'm about to take a new job (about $76k/year) and they offer two options of retirement plans, a pension plan (this is a state job in GA) and a 401k (I think) plan. Both plans are mandatory employee contribution of 6%, no more and no less.
Pension plan - This was one of the benefits that interested me when I had applied. They put in almost 17%, and I am vested after 10 years. It provides 2% per year of service income replacement after retirement.
401k - This is about 9% employer contribution, but I am immediately vested.
Ultimately, I want to be able to financially stable enough to retire early (I'm 23 now). I definitely plan on hopefully staying at least 10 years, since I am leaving previous job after just over a year and I don't want to hop around so much.
I don't have much knowledge about pension plans, but would the pension plan still be able to let me retire early comfortably, or is the 401k my best bet?
Submitted August 29, 2017 at 09:47AM by RollTideEngineer http://ift.tt/2vBiAmw
