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MichMan

(11,919 posts)

8. Defined benefit plans were great at one time

Reply to turbinetree (Original post)

Fri Sep 15, 2017, 11:39 AM

Sep 2017

They were great when people would work for one company for 30 yrs. That very seldom occurs now. If you change jobs and never work in one long enough to be vested, under a defined benefit, you would get nothing.

At least with a 401k it is portable and accumulates assets immediately

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8 replies

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Highlight:

Welfare For Wall Street: Fees On Retirement Accounts [View all] turbinetree Sep 2017 OP

My 401k is far from "worthless" nm MichMan Sep 2017 #1

Most defined benefit plans have huge unfunded wasupaloopa Sep 2017 #2

The sad reality is that many defined pensions PoindexterOglethorpe Sep 2017 #3

My companyretirement plan was way overfunded, so they restructured the plan SharonAnn Sep 2017 #5

Good grief! PoindexterOglethorpe Sep 2017 #6

My 401K is definitely not worthless. leftofcool Sep 2017 #4

Defined benefit plans are better for the employees (in general) Yupster Sep 2017 #7

Defined benefit plans were great at one time MichMan Sep 2017 #8