Michelle Lambright Black, Founder of CreditWriter.com and HerCreditMatters.com, is a leading credit expert and personal finance writer with nearly two decades of experience in the credit industry. She ...

Defined benefit plans guarantee a set retirement payout, reducing investment risk for employees. These plans are rare in the private sector, with employers bearing the majority of funding and risk.

401(k) is a type of defined contribution plan with varying contribution limits based on age. Employers may match 401(k) contributions; withdrawals before age 59 1/2 can incur penalties. Other defined ...