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Reply #3: unions and pensions [View All]

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Home » Discuss » Topic Forums » Poverty

sgxnk

(1000+ posts) Send PM | Profile | Ignore

Mon Jul-31-06 05:15 PM
Response to Original message

3. unions and pensions

disclaimer: been union member for most of my life

pensions in general, imo, are a bad idea

companies are moving towards defined contribution vs. defined benefits plan

pensions fall in the latter group, and imo are inferior for a # of reasons vs. the former

many companies are negligent (probably criminally so) in underfunding pensions, and should be punished/rectified

but also, imo, pension systems in general is a flawed way of looking at retirement

defined contribution plans are much better, and also much more portable, which is more important now than it was 50 yrs ago

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