(MONEY Magazine) – Q. My company just switched from a traditional pension plan to a cash-balance plan. Should I be worried?

A. That depends in large part on your career: The longer you've worked for your company, the better off you were with that old pension. Why? Traditional pension plans dole out benefits based on how long you've worked for a company and how much you've earned over the years--a formula that rewards long, loyal service. Loyalty is no virtue in a cash-balance plan, however, which takes into account only how much you make: You are credited with a percentage of your salary every year, and the money then grows at a set rate (say, 5%) until you retire. That's actually a better deal for a 25-year-old who has plenty of time for the money to compound; it's not so great if you're over 40. But get used to it: The number of cash-balance plans has grown by 50% in recent years and more conversions are coming. And look on the bright side: At least your employer didn't get rid of its pension plan altogether, a step that more than 100,000 companies have taken so far.