Recently I had a conversation with someone about pension plans. You do not often hear about pension plans because most companies no longer offer them as a retirement option. If you work for the government or for an industry with a large union, you may have a pension plan instead of a 401(k). You will still need to save additional money for retirement, so that you can reach your retirement goals.
You may want to set up an IRA to help you reach the goal of contributing fifteen percent of your income to retirement each month. You may not be able to put all of that into retirement accounts, depending on the plans that are available to you. You can count the amount that your company is contributing for your pension towards the fifteen percent goal.