Age 70? BOHICA...
03-02-2023 | 09:22 AM
#25
Prime Minister/Moderator
Joined: Jan 2006
Posts: 44,906
Likes: 691
From: Engines Turn or People Swim
Generally most workers who have a mandatory retirement age also have a DB pension. The vast majority of those are government employees though (mil, fire, LE, ATC).
Exception might executives, who are not protected by age discrimination laws, and often have to hang it up age 65-70. But you can argue that gets them pretty far downrange in their career anyway, and they are highly compensated.
You could also argue that 65 gets us pretty far down range, and many of us are highly compensated in the grand scheme.
03-02-2023 | 07:18 PM
#26
Gets Weekends Off
Joined: Dec 2019
Posts: 2,250
Likes: 104
We get huge (compared to any other industry) DC into our 401ks in exchange for losing the pensions in bankruptcy. It’s better to keep boosting DC than wishing for Pensions back. Yeah it’s nice to have, but less risk of annihilation by the PBGC
03-03-2023 | 08:45 AM
#27
Gets Weekends Off
Joined: Dec 2010
Posts: 3,201
Likes: 32
From: 4A2FU
UAL's bankruptcy judge that they bribed sure did though.
Laws have changed since then though, and there are better protections now.
The PBGC preserves what's left and maximizes payments to those affected, which includes COLA increases, believe it or not.
You'd be a fool to not want an A fund going into the future when economic growth for the next 10-20 years doesn't look optimistic due to significant amounts of boomers leaving the workforce with insufficient birth rates to replace them.
To expect that the stock market will grow like it did in the 20th century is pretty foolish when the economic indicators point the other direction.
03-03-2023 | 08:49 AM
#28
Line Holder
Joined: Mar 2021
Posts: 1,768
Likes: 28
The PBGC has never annihilated a pension.
UAL's bankruptcy judge that they bribed sure did though.
Laws have changed since then though, and there are better protections now.
The PBGC preserves what's left and maximizes payments to those affected, which includes COLA increases, believe it or not.
You'd be a fool to not want an A fund going into the future when economic growth for the next 10-20 years doesn't look optimistic due to significant amounts of boomers leaving the workforce with insufficient birth rates to replace them.
To expect that the stock market will grow like it did in the 20th century is pretty foolish when the economic indicators point the other direction.
UAL's bankruptcy judge that they bribed sure did though.
Laws have changed since then though, and there are better protections now.
The PBGC preserves what's left and maximizes payments to those affected, which includes COLA increases, believe it or not.
You'd be a fool to not want an A fund going into the future when economic growth for the next 10-20 years doesn't look optimistic due to significant amounts of boomers leaving the workforce with insufficient birth rates to replace them.
To expect that the stock market will grow like it did in the 20th century is pretty foolish when the economic indicators point the other direction.
03-03-2023 | 09:12 AM
#29
Line Holder
Joined: Jul 2015
Posts: 1,588
Likes: 4
From: MD-88 FO
The PBGC has never annihilated a pension.
UAL's bankruptcy judge that they bribed sure did though.
Laws have changed since then though, and there are better protections now.
The PBGC preserves what's left and maximizes payments to those affected, which includes COLA increases, believe it or not.
You'd be a fool to not want an A fund going into the future when economic growth for the next 10-20 years doesn't look optimistic due to significant amounts of boomers leaving the workforce with insufficient birth rates to replace them.
To expect that the stock market will grow like it did in the 20th century is pretty foolish when the economic indicators point the other direction.
UAL's bankruptcy judge that they bribed sure did though.
Laws have changed since then though, and there are better protections now.
The PBGC preserves what's left and maximizes payments to those affected, which includes COLA increases, believe it or not.
You'd be a fool to not want an A fund going into the future when economic growth for the next 10-20 years doesn't look optimistic due to significant amounts of boomers leaving the workforce with insufficient birth rates to replace them.
To expect that the stock market will grow like it did in the 20th century is pretty foolish when the economic indicators point the other direction.
03-03-2023 | 02:05 PM
#30
Line Holder
Joined: Apr 2022
Posts: 1,735
Likes: 110
The PBGC has never annihilated a pension.
UAL's bankruptcy judge that they bribed sure did though.
Laws have changed since then though, and there are better protections now.
The PBGC preserves what's left and maximizes payments to those affected, which includes COLA increases, believe it or not.
You'd be a fool to not want an A fund going into the future when economic growth for the next 10-20 years doesn't look optimistic due to significant amounts of boomers leaving the workforce with insufficient birth rates to replace them.
To expect that the stock market will grow like it did in the 20th century is pretty foolish when the economic indicators point the other direction.
UAL's bankruptcy judge that they bribed sure did though.
Laws have changed since then though, and there are better protections now.
The PBGC preserves what's left and maximizes payments to those affected, which includes COLA increases, believe it or not.
You'd be a fool to not want an A fund going into the future when economic growth for the next 10-20 years doesn't look optimistic due to significant amounts of boomers leaving the workforce with insufficient birth rates to replace them.
To expect that the stock market will grow like it did in the 20th century is pretty foolish when the economic indicators point the other direction.
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