Um, do you US citizens have RRSPs?
You shove money into it and don't pay taxes on the payments until you start drawing it out, hopefully after you retire.
One great advantage is that your boss can opt to match the employees payments rather than setting up a company pension fund. The major benefit of this is that when some offshore bastard takes over your company, sends the jobs to Guatemala and sells the factory to be bulldozed to build a shopping mall, at least they can't loot the pension fund.
You shove money into it and don't pay taxes on the payments until you start drawing it out, hopefully after you retire.
One great advantage is that your boss can opt to match the employees payments rather than setting up a company pension fund. The major benefit of this is that when some offshore bastard takes over your company, sends the jobs to Guatemala and sells the factory to be bulldozed to build a shopping mall, at least they can't loot the pension fund.
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