It has been said that John F. Kennedy’s 1961 inaugural address inspired a generation to consider public service. But for those going into public service today, Kennedy’s words might be rephrased: “Ask not what your country can do for you, ask what you can do for your country — and be sure to ask about the pension benefits.”
That's because, in the decades since Kennedy, the public and private sectors in the U.S. have taken separate paths when it comes to retirement benefits. Most public sector employees enjoy defined benefit plans – retirement packages that provide a guaranteed benefit at retirement.