I must be reading wrong. Indicates MORE Americans have retirement svgs now than in '79? But instead have 401(K)s which they control? Bad?
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It's a risk shift. Pensions are guaranteed payments for employees. 401(k)s are not. Whether that's bad depends on your perspective (1/2)
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Pensions are not guaranteed. If you're fired it's gone. Also, pension mismanagement is a problem.
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Pension doesn't go away if you're fired, so long as you're vested (usually relatively quick)
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A good case for stronger unions
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The real issue is the 55% or so that have neither.
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This- read the numerous articles about ppl who have no savings. Saving is very difficult but is a necessity, no matter your income.
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This is what happens when a nation becomes a
#Fascist state were citizens are commoditized with no regard for social consequences.Thanks. Twitter will use this to make your timeline better. UndoUndo
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sorry to disappoint, but i'd much rather have a 401k than a pension that can be reduced/eliminated.
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You can't really lose with a defined benefit plan because you're always entitled to your contributions and interest
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Not true - if you leave before your twenty years, your payout is small. If the biz merges or goes bankrupt, you lose much if not all.
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your graphic shows that, over time, more people were covered by at least one type of retirement account. so things improved
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I've often wondered how stocks would be doing without trillions of 401k dollars chasing finite stocks. House of cards? Pyramid scheme?
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Govt caused inflation has made guaranteed pension amounts unaffordable to setup & maintain
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Throw a divorce into the mix and we REALLY have trouble, don't we??? And I do mean WE!
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Pensions are employer elected contributions (deduct from employee comp), 401K is employee elected contributions, dedtd from emp comp.
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& I would argue that the 401K is a far better vehicle as it's not at risk of corporate failure, is portable and allocation employee directed
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Can we correlate with companies who mismanaged pensions?
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