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reteachinwi

(579 posts)

8. 401K

Reply to michigandem58 (Original post)

Thu Dec 27, 2012, 12:35 PM

Dec 2012

Pensions are replaced with 401Ks in many cases. 401Ks ask individual contributors to assume all the risks of investment. The investment houses collect fees whether they make money for their clients or not. Pensions are much more like insurance policies where the risk is spread out among pensioners and contributors. Conservatives want to make SS a 401K plan. They get the fees, we get cat food.

http://www.aflcio.org/Issues/Retirement-Security

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Since 1981, private sector defined retirement benefits have shrunk from 60% to 10% of workers [View all] michigandem58 Dec 2012 OP

My employer is cutting off pensions at the end of 2013 liberal N proud Dec 2012 #1

And how big has your company CEO's compensation been? Yo_Mama_Been_Loggin Dec 2012 #3

He took a 47% increase this year liberal N proud Dec 2012 #6

Along with stagnant wages for the exact time period as well. SugarShack Dec 2012 #2

Thanks, Reagan Zoeisright Dec 2012 #4

My first thought, too michigandem58 Dec 2012 #5

And thanks to everybody who voted for Reagan. yardwork Dec 2012 #12

+100000000 NNN0LHI Dec 2012 #16

K and fucking R slackmaster Dec 2012 #7

We should be working to recreate the world our parents enjoyed abelenkpe Dec 2012 #11

401K reteachinwi Dec 2012 #8

Good Point buzzroller Dec 2012 #9

Ask your bank about 401K retirement accounts. RC Dec 2012 #18

sounds like a great time to raise the eligibility age for medicare and abelenkpe Dec 2012 #10

On top of that, how many people Heywood J Dec 2012 #13

Mergers and Acquisitions Deny and Shred Dec 2012 #14

Yeah. And when the stock market crashes so does your 401-k nest egg judesedit Dec 2012 #15

But so did any pension funds... OneMoreDemocrat Dec 2012 #17

See post #18 RC Dec 2012 #19