<prompt> Human: I recently got a job with my university at a 100k salary and theyre having me choose a retirement plan. They do 8 then 10 contribution into 401k..or i can choose to put 6 into a pension. I dont think I can do both or else I would. The pension vesting period is ten years. However, I think Im going to want to end up staying here. Ive moved around jobs a lot and landed in a place I want to be, in an area I like. Im 28 and want to start saving for a house etc. I know pensions arent too big to fail but most nys workers I know are living pretty comfortably in retirement. Link to the differences :  <response>: I had to make a similiar decision this year and was pretty torn. For me it was 9 paid into pension plan for aproximatly 55 of salary at retirement 8 years for deferred and around 30 years for full benefits or 401k 403b? style plan where I put in 9 and they put in the equivalent of 5 of my salary, immediately vested. I also have access to 457 and 401K without any matching.I chose the 401k style for flexibility and because my states pension plan is currently way under funded. I also can switch from 401k to pension in the first 5 years but cannot switch from pension to 401k. 