Originally Posted by
JonnyKnoxville
I would rather manage my own retirement than leave it in the hands of the Teamsters or Atlas. The industry standard is 16% of your wages being put into a 401k by your company and what do we do? Go the other direction.
How is that Samsung PCD working out for you? Everyone else dumps their paper charts for iPads and we do it differently....blazin' the way.
Underfunded, mismanaged pensions aren't worth the paper they are written on. Can you say PBGC?
Give me one good reason where pensions beat a 401k, just one? They are inferior in every way.
So tied to the Teamsters is a good thing? What if our relationship goes South like it did with ALPA? Let's switch unions...oh, wait my retirement is with the Teamsters...never mind.
I also prefer defined contribution systems -- ideally with access to single payment life annuities at institutional rates.
I was simply pointing out that the issue that you raised, the company tanking and taking the pension with it, would not be the case in our situation.
And in any case there is no point in getting wrapped around the axle until the facts are on the table.