Employee Pension Plan…

One of the reasons I opted to continue working full-time and to attend school part-time is because of BENEFITS!!! Sometimes I feel like I work for my benefits just as much as my salary. I also have a decent and generous employer. While I did get slighted along my career path, I was never totally jaded because the setbacks forced me to reconsider my career options and law school. So like most things, my first years out of undergrad were very bitter sweet.

I always knew that my employer had both a pension plan and a 401k plan. I never thought to include my pension plan in my net worth calculation because 1) I didn’t know how and 2) I was too lazy to figure it out. But I did some research today on the company’s website and have some good news to report.

401(k): My employer matches 100% of my 401k contributions up to 5% of my gross salary.

Account Balance: ~ $16,500

Employer Funded Pension: My pension is now fully vested and transferable, which means that I can take my vested account balance with me when I leave the company, no matter what my age is. Additionally, the pension plan has a long history and I have a very stable employer.

Account Balance: ~ $11,400.

So my total retirement benefits total $27,900. Oh yeah baby!!!

*When I do this month’s totals on networthiq.com, I will restate my net worth. =)