The money you put in is tax deferred. The final amount you will receive cannot be based on actuarial calculations since the money is being invested in stocks, bonds, etc. Retirement plans where an employee is promised a pension amount based on age and service. The final benefits are based on actuarial calculations. The right of employees to receive benefits from their pension plans.
Most employees receive full pension rights after five years on the job.
If an employee is vested, the employee can get back what the employer put into the plan on the employee's behalf after retirement. If the employee is not vested and leaves the company, the employee does not receive any of the money the employer put into the plan. Employee Retirement Income Security Act protects employees from losing their pension money if the pension funds go bankrupt. The act regulates private pension plans in order to assure that employee who put money into them actually receive their money when they retire. Health Maintenance Organizations according to the HMO act of 1973 requires that if employers with 25 or more employees provide other health care coverage, they must also offer an HMO as an option to their employees if one is available in the local area.