Originally Posted by
pete2800
So... serious question here.
I'm a young guy, and based on what I've seen in the last 10-15 years... I'd rather have a 401k funded by the company than a pension that can get screwed up by a bankruptcy.
If they're giving me the money either up front (401k) or later (pension), why do you prefer the pension option? I'm not trying to be a moron, I'm just maybe ignorant of the potential advantages of a pension plan.
You are not the only one. Give me a great 401k/defined contribution any day of the week.
40% FAE on $250,000/Yr is $100,000. A higher contribution by the company during your working years can give you a nest egg with a principle that will earn you that same $100,000. Best part is it is BK, and loss of license proof. Oh and the Union can't negotiate the money that you have away in a future contract, but they can negotiate away a pension.