May 24, 2018
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Comments for: A slowly evolving train wreck

The 401(k) concept always looked good on paper. The thinking went that workers would have the discipline to save enough money to more than match Social Security in their retirement years. The facts show, however, that the actual outcome for most American workers will be far… Read More
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  • Anonymous

    Hmmmm. The shift from pensions to 401k is a looming crisis. Well, given the way pension funds have been raided or underfunded by corporations that run them, I’m happy to manage my own money.

    Part of the reason people’s 401k plans are empty is folks simply choose not to save.  Employer contributions are generally of a “match” type, so the drop in contribution reflects the drop in personal savings rate. 

    • Anonymous

       or raided by the unions that run them…

      More importantly another reason pensions have declined is because they are not portable from one job to another and people do not stay at the same company or job for their
      entire lives.  The  assembly line lifestyle is gone. 

  • Anonymous

    Too many times in the past I’ve heard my elders say that “Social Security will take care of me”.
    The government made them dependent and now the press wants to pretend that it didn’t.
    Too sad and yet funny at the same time.

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