PITI is an acronym for principal, interest, taxes and insurance. This combination is what makes up your monthly mortgage payment. Calculating your PITI number will help you determine which house you can afford and enable your lender to see if you are a viable candidate for a mortgage loan.
A pension plan is a benefit plan established by either an employer or a union (or another employee organization) to help employees save for retirement. The plan, depending on the type offered, may either guarantee workers a certain income during retirement or help them defer income for retirement.