superannuation pensions and USA employers?

Question

Anyone know of superannuation pensions and USA Employers ?
Candidate looking for info , over 59 recently hired

Answer 1

Superannuation in the US is normally called a 'pension plan'. There are two primary types in the US, 'defined benefit' plans (seen mainly in government/large unionized workplaces) guarantee some pension payment based on a formula using years of service, salary at retirement, etc. The other type is a 'defined contribution' plan, such as a 401k, and is more similar to australian super plans - though without the transferability between employers. Some - but not all - employers offer a 401k plan where employees can take advantage of (hopefully) discounted management fees etc on a selection of investment options. Some employers also offer matching of employee contributions. Employers are not required to offer this sort of plan, they simply _can_ offer it and contributions within it have tax advantages relative to normal investments.