--Some employers

also offer retirement plans.

401k plans allow an employee to set aside a percentage of salary each year. Some employers match employee contributions.

Profit sharing means the employer divides up and shares a percentage of the annual prfots to their employers.

Most goverment employees receive a defined-benefit retirement income plus Social Security when they retire.

The goal is to retain employees until they retire.

Employers must
pay a percentage
of each employee's
salary into the Social
Security fund.

There is no other
legally mandated
retirement plan.

Retirement
benefits are a
privilege not
a right.
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