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A comment on Lyft lays off 17% of workforce, furloughs hundreds more. Parent comment

Re:Lyft lays off 17% of workforce, furloughs hundreds more by wikibob on Wednesday April 29, 2020 @03:32PM (#23023191)
Are you in the USA?

Pensions are defined benefit. That is, it is specified exactly how much money you will receive in retirement.

A 401K retirement plan is not a pension. You save your own money and possibly an employer contribution, and you make your own investment decisions. The value goes up and down in accordance with what you invested in.

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Re:Lyft lays off 17% of workforce, furloughs hundreds more by chrisseaton on Wednesday April 29, 2020 @03:34PM (#23023208)
> A 401K retirement plan is not a pension.

Are we both talking about https://en.wikipedia.org/wiki/401(k)?

"In the United States, a 401(k) plan is the tax-qualified, defined-contribution pension"

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Re:Lyft lays off 17% of workforce, furloughs hundreds more by Loughla on Wednesday April 29, 2020 @03:45PM (#23023316)
Defined contribution (401k) is not the same as defined benefit (pension).
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