Originally Posted by
usernamehere
Also, pensions are dumb. (The point I think the guy was making.) They’re a scheme that doesn’t work accept when backed by the government/ you and me. I met many retired auto workers driving truck to make ends meat because their pensions went away when the company went away. Fully vested 401K all the way. I doubt most people have a problem with certain union protections.
Their are still many private companies that have pensions. UPS, Prudential,J&J, Coca Cola. All are profitable and all are not the on the dime of the taxpayers. About 13 million Americans get a private pension check. 401k's were set up to put the burden of retirement to the employees and not the employers. YOU have to put your earned money to get a match from the employer 99% of the time. Throw in the fact that employees pay more of for healthcare than their employers and you can see why Americans have hardly any retirement savings and 400 bucks away from a catastrophe. Greatest labor theft in the last 50 years IMO.