Cousin Basil
Active member
How many of these pensions are unfunded liabilties that the US taxpayer is on the hook for?Disagree on the retirement, pensions PLUS the ability to contribute to an IRA/401 would be best.
Lets just be honest, there are plenty of employees that say they "can't afford" to save for retirement. They find themselves in a cashflow situation of having to work until they die when retirement savings is an option. Defined Benefits/Pensions don't give the employee an option to participate. Sore, a smart employee will do better, but the average employee...well, probably isn't that will informed about retirement savings.
Just look at the mountains of articles with average retirement savings. Pretty obvious the average American Worker is woefully unprepared to retire. Many will never be able to, but they would if they had a pension.