Nothing more than a corporation allowing you to save/invest YOUR OWN money for your retirement which you are free to do without them. They do offer a miniscule match up to a certain point however. While eliminating the pension that you actually EARNED while busting your ass to make them money.
Then if the company goes kaput for any reason, you're on your own trying to collect on the pension you worked so hard for.
It's all about corporate profit, hence the layoffs and cross training crap where you get to work 3 jobs for the same money. If you don't like it so what? Where else yo gonna get a fucking job?
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To remove first post, remove entire topic.
Nothing more than a corporation allowing you to save/invest YOUR OWN money for your retirement which you are free to do without them. They do offer a miniscule match up to a certain point however. While eliminating the pension that you actually EARNED while busting your ass to make them money.
Then if the company goes kaput for any reason, you're on your own trying to collect on the pension you worked so hard for.
It's all about corporate profit, hence the layoffs and cross training crap where you get to work 3 jobs for the same money. If you don't like it so what? Where else yo gonna get a fucking job?
Its called capitalism, just another cost eliminated so profits can increase and top top management can increase their bonuses and salaries.
So true. This is the tragedy of job losses in the USA. Not only are jobs cut and outsourced completely, health benefits are constantly hacked and retirement planning has been entirely eliminated.
The days of calculating a complete job package in order for an employee to choose his best career path have been annihilated.
What ever happened to 100% 401k matching?
Didn't this used to be THE STANDARD?
~~~~~ZOSO~~~~~
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Quote Originally Posted by wallstreetcappers:
Its called capitalism, just another cost eliminated so profits can increase and top top management can increase their bonuses and salaries.
So true. This is the tragedy of job losses in the USA. Not only are jobs cut and outsourced completely, health benefits are constantly hacked and retirement planning has been entirely eliminated.
The days of calculating a complete job package in order for an employee to choose his best career path have been annihilated.
pensions are being sunseted mostly because they are anachronistic now. EE's rarely plan on working for one employer for decades anymore...and they are not an incentive to getting younger workers to join a company any longer...much better for these workers to have a 401k that they can take ownership in, know their balance, and take with them as they change employers.
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pensions are being sunseted mostly because they are anachronistic now. EE's rarely plan on working for one employer for decades anymore...and they are not an incentive to getting younger workers to join a company any longer...much better for these workers to have a 401k that they can take ownership in, know their balance, and take with them as they change employers.
pensions are being sunseted mostly because they are anachronistic now. EE's rarely plan on working for one employer for decades anymore...and they are not an incentive to getting younger workers to join a company any longer...much better for these workers to have a 401k that they can take ownership in, know their balance, and take with them as they change employers.
You are kidding right?
Pension balances can be known, are you saying that people would rather go for a 401k with little to no matching instead of a pension and that people dont want to have long term employment with their profession?
We are entitled to our opinions and that goes for you, but I do not agree with anything you said. I think people would choose a pension over a 401k and most people DO want long term jobs, I dont know many people who enjoy being relocated or having to search for a different job.
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Quote Originally Posted by Johnzimbo34:
pensions are being sunseted mostly because they are anachronistic now. EE's rarely plan on working for one employer for decades anymore...and they are not an incentive to getting younger workers to join a company any longer...much better for these workers to have a 401k that they can take ownership in, know their balance, and take with them as they change employers.
You are kidding right?
Pension balances can be known, are you saying that people would rather go for a 401k with little to no matching instead of a pension and that people dont want to have long term employment with their profession?
We are entitled to our opinions and that goes for you, but I do not agree with anything you said. I think people would choose a pension over a 401k and most people DO want long term jobs, I dont know many people who enjoy being relocated or having to search for a different job.
Pension balances can be known, are you saying that people would rather go for a 401k with little to no matching instead of a pension and that people dont want to have long term employment with their profession?
We are entitled to our opinions and that goes for you, but I do not agree with anything you said. I think people would choose a pension over a 401k and most people DO want long term jobs, I dont know many people who enjoy being relocated or having to search for a different job.
No I am not saying ppl would chose one over the other, I have both and appreciate that. Yet I understand why companies are phasing them out...there isn't much benefit in a company to offer them any more. Younger workers mostly have no clue what a pension even is. When I would take to some of my employees about our pension plan, they have no clue and don't even want to discuss it, but they would discuss their 401k plan which they felt more of an ownership in.
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Quote Originally Posted by wallstreetcappers:
You are kidding right?
Pension balances can be known, are you saying that people would rather go for a 401k with little to no matching instead of a pension and that people dont want to have long term employment with their profession?
We are entitled to our opinions and that goes for you, but I do not agree with anything you said. I think people would choose a pension over a 401k and most people DO want long term jobs, I dont know many people who enjoy being relocated or having to search for a different job.
No I am not saying ppl would chose one over the other, I have both and appreciate that. Yet I understand why companies are phasing them out...there isn't much benefit in a company to offer them any more. Younger workers mostly have no clue what a pension even is. When I would take to some of my employees about our pension plan, they have no clue and don't even want to discuss it, but they would discuss their 401k plan which they felt more of an ownership in.
Well the reasons you give are due to failures of the corporation..that the company might not make it long term, that you have no control over it.
To me the reality is of COST because if what you are suggesting were true then the very same corporation would full match a 401k, instead of little to none.
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Well the reasons you give are due to failures of the corporation..that the company might not make it long term, that you have no control over it.
To me the reality is of COST because if what you are suggesting were true then the very same corporation would full match a 401k, instead of little to none.
Also with the vesting guidelines set by the company, you could end up with no match at all. 401k's are not for drifters that think the grass is always greener. Companies count on you people to leave the match on the table and just leave with your money.
Now pensions, I worked for the same company for 34 yrs. and if they didn't close I would still be there. I did have a pension plan which was suspended in my 30th year AND a 401k was started which is NOT guaranteed match money until you're vested usually 5-6 yrs.of service.
Pension beats a 401k at all times.
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Also with the vesting guidelines set by the company, you could end up with no match at all. 401k's are not for drifters that think the grass is always greener. Companies count on you people to leave the match on the table and just leave with your money.
Now pensions, I worked for the same company for 34 yrs. and if they didn't close I would still be there. I did have a pension plan which was suspended in my 30th year AND a 401k was started which is NOT guaranteed match money until you're vested usually 5-6 yrs.of service.
If you want a pension nowadays,you pretty much better get a state or government job.Pilots used to get 6,000 a month for 30 plus years of flying,but many have been reduced to 1,000 per month due to mergers or banckruptcy's or eliminated for an early retirement payout.
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If you want a pension nowadays,you pretty much better get a state or government job.Pilots used to get 6,000 a month for 30 plus years of flying,but many have been reduced to 1,000 per month due to mergers or banckruptcy's or eliminated for an early retirement payout.
Well, here's my take on a retirement account (401k, IRA, etc, etc). If you don't plan on cashing it all out once you hit retirement and plan on taking monthly deductions, I'd say go 100% stocks until the day you die. As in never own bonds. Die owning stocks. By setting a retirement date or retirement age, you minimize the potential of letting your money earn more from you. If you don't plan on cashing it all out at once and only need monthly distributions for yourself, you put time on your side. Even if you hit a major bear market towards your retirement age, since you're never going bonds anyways, your account will eventually get back to where it was after a few years time anyways ... at least according to history ... if you're a believer in the "history repeats itself" market philosophy. I've said too much. Off topic ... my bad
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Well, here's my take on a retirement account (401k, IRA, etc, etc). If you don't plan on cashing it all out once you hit retirement and plan on taking monthly deductions, I'd say go 100% stocks until the day you die. As in never own bonds. Die owning stocks. By setting a retirement date or retirement age, you minimize the potential of letting your money earn more from you. If you don't plan on cashing it all out at once and only need monthly distributions for yourself, you put time on your side. Even if you hit a major bear market towards your retirement age, since you're never going bonds anyways, your account will eventually get back to where it was after a few years time anyways ... at least according to history ... if you're a believer in the "history repeats itself" market philosophy. I've said too much. Off topic ... my bad
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