Originally Posted by
rickair7777
...why not also try to get a DB for the folks who don't have it? All hypothetical, frankly in today's world I would not want my retirement in the hands of the company, the stock market is risky but at least you have a measure of control there.
The reason for not trying to reinstate a DB plan is the fact that AS will absolutely NOT go for it. Until they "solved" the problem over a decade ago, the DB plan was costing them $100M a year to keep it solvent. Why? Because they had shifted from buying retirees annuities to self-financing the plan.
Since Shy says the VXers never had a DB plan, I don't see the problem. Believe me, getting 15.5% in a DC plan sounds GREAT considering all I ever got was 3% coupled with the DB plan with a half lump sum payout.
I agree with you...I prefer having my advisors manage my 401k money than to have a pension that never changes regardless of the economic landscape.