Originally Posted by
REF 5
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.
Exactly. It was sold to Americans as their chance to dabble in the markets like the rich folk do, but it was a poison pill from the beginning. It also helped transform the stock market into the tail wagging the dog that it is today.