Cash Balance Pension vs. Traditional Pension Explained

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If you’ve been in your utility job for years and still don’t understand how your pension works, you’re not alone. In this episode, Steve takes a listener question from Lisa. She’s been working for 15 years and asked a commonly misunderstood question: What’s the difference between a cash balance pension and a traditional pension? 

Tune in as Steve breaks down the key differences and why it matters!

Here’s some of what we discuss in this episode:

📊 Traditional vs. cash balance pensions- what’s the difference? 

💰 How a cash balance pension grows with guaranteed employer contributions and interest

🧠 Why your pension type should guide your 401k investment decisions

🛠️ Aligning your pension + 401k strategy

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