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View Diary: The Hostess Pension Letter/Updated W/Vids (30 comments)

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  •  It's all about class. (9+ / 0-)

    The pension system grew up alongside Social Security, and is under attack for the same reasons.  Workers with dependent parents, like those with dependent children, are afraid to talk back to their betters.

    Early to rise and early to bed Makes a man healthy, wealthy, and dead. --Not Benjamin Franklin

    by Boundegar on Wed Nov 21, 2012 at 01:03:18 PM PST

    •  Pensions always have this problem (1+ / 0-)
      Recommended by:
      johnny wurster

      They are always a future obligation that the company (or public entity) may or may not be able to make good on.

      That's why I tend to prefer 401ks and other savings plans. The company can't reneg. They can stop contributions, of course, but they can't then lie and say "your benefits won't be affected".

      (-5.50,-6.67): Left Libertarian
      Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

      by Sparhawk on Wed Nov 21, 2012 at 04:06:47 PM PST

      [ Parent ]

      •  However, (0+ / 0-)

        unless you have Romney magic, it's almost impossible to amass enough in a 401k to retire comfortably.  Defined benefit plans guarantee a standard of living - except when they don't.

        Early to rise and early to bed Makes a man healthy, wealthy, and dead. --Not Benjamin Franklin

        by Boundegar on Thu Nov 22, 2012 at 11:47:43 AM PST

        [ Parent ]

        •  Both contain risk (0+ / 0-)

          It's just a different kind of risk.

          Risk is inherent in any plan where you expect to retire and have others do the work after the fact to keep you alive.

          (-5.50,-6.67): Left Libertarian
          Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

          by Sparhawk on Thu Nov 22, 2012 at 03:47:53 PM PST

          [ Parent ]

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