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@daniel7799 State of Michigan, the 403b and 457 are independent of my state benefits and are through the district itself

@postmalone Oh lol, I thought you said it couldn't exist 😂. No, so they match my pension at the same level as my contribution. Paperwork says myself and my employer pay 6.2% each for the pension, for the 401(k) it gives the example that I could contribute 2% and they contribute 1% to the...

@postmalone From my paperwork "this is a plan that pairs a pension with a savings plan. The savings plan enrolls you in a state 401(k) plan and 457 plan. A pension guarantees you a monthly benefit after meeting age and service requirements. The retirement system manages your pension while you...

I recently took a job for a school district, the state automatically enrolled me in a pension that has both a typical pension component and a 401(k) and/or 457 component (the paperwork constantly mentions the both of them together so I can't figure out if I pick or they give me one or the other)...