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The focus on 401ks has destroyed the retirement for millions of Americans over the last generation.
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<blockquote data-quote="dudebro" data-source="post: 2358738" data-attributes="member: 11234"><p>The fallacy in your argument is that there are only two options - companies invest in a pension, or invest in nothing. That's now how the real world works. There are other options that can be created. </p><p></p><p>I'm sure the company would LIKE to invest nothing. That's why I think the Union has to exist to protect the employees. So why can't there be a negotiation, like, instead of a pension, the company will match x% of the workers wages in a private account like a 401(k). And after this is invested, it's OWNED by the employee. </p><p></p><p>There can't be any, hey, we're short this year, so we're just going to borrow from your retirement, wink wink, we'll put it back later. And this is what the government has done with social security, and countless companies and unions have done with their pensions.</p></blockquote><p></p>
[QUOTE="dudebro, post: 2358738, member: 11234"] The fallacy in your argument is that there are only two options - companies invest in a pension, or invest in nothing. That's now how the real world works. There are other options that can be created. I'm sure the company would LIKE to invest nothing. That's why I think the Union has to exist to protect the employees. So why can't there be a negotiation, like, instead of a pension, the company will match x% of the workers wages in a private account like a 401(k). And after this is invested, it's OWNED by the employee. There can't be any, hey, we're short this year, so we're just going to borrow from your retirement, wink wink, we'll put it back later. And this is what the government has done with social security, and countless companies and unions have done with their pensions. [/QUOTE]
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The focus on 401ks has destroyed the retirement for millions of Americans over the last generation.
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