I currently make $40,000/year. I am 27 years old and have $40,000 between my 401k and IRA. I will remain “low income” my entire life as I have a disability and can only work part time [if I wasn’t disabled, I could earn much more, I am about to graduate with a bachelor’s in engineering]. In 2027 I expect to earn $60,000/year and I expect that to be my salary for the rest of my working life, with cost of living adjustments. I have been on my own since I was 17, so no family support. However, I am frugal, and I can cover all of my expenses with $2,500/month. I expect this amount to remain the same all of my life, adjusted for inflation. No debt.

My employer offers two options: either a 401k match or a pension plan. The 401k match is a 6% match, if I chose this option I would be putting 20% of my annual salary in my 401k. The pension plan would give me $2000/month in today’s dollars starting age 55, which is when I hope to retire. If I die, my spouse continues to receive my pension until they die.…