Do employer pension plans still exist? I work for a company whose owner is a nice older gentleman. He built his company from the ground up decades ago and provides us with a pension package in addition to my 401k option. My question is, in the news I have seen a lot about people who embezzled from the funds or companies that no longer offer the pensions. Do most people rely on 401k and other retirement now, or do employers still offer the traditional pensions?