3 Questions to Ask Before You Take a Pension
The first corporate pension dates back to 1875, when the American Express Company began providing workers half of their annual salary in retirement once they hit 20 years with the company. Shortly thereafter, utilities, banking, railroads and other manufacturing companies also began providing pensions.
However, problems quickly developed after companies went out of business, leaving workers without retirement. It made pension plans more secure by establishing regulations for employer-sponsored retirement plans.
