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<blockquote data-quote="vantexan" data-source="post: 840873" data-attributes="member: 24302"><p>I've always said a pension is the foundation of a good retirement. You're the one who keeps talking about sole support. And what you can't accept is criticism of the company and make excuses for them. You either have other sources of retirement income or are naive about what your 401k will do for you. Better not count on it as your sole support. </p><p></p><p>There was a time when the majority of workers got a pension. As companies trimmed backed we still got one. Why? Because they had to offer incentives to get and keep good workers in a labor intensive job. That's the point of humping like crazy, you get rewarded for the effort. But with the advent of 401k's and cash balance plans companies saw the chance to get rid of pensions. Very few companies offer a traditional pension now. So FedEx felt comfortable getting rid of their's because they don't have to worry about losing workers to companies that do. But they hedged their bet by replacing it with a cash balance plan. Without that I'm certain alot of people would leave because why hump all day when there are jobs to be had for a little less pay that don't require constant running and rules out the ying-yang. </p><p></p><p>Get used to the criticism, it's well deserved.</p></blockquote><p></p>
[QUOTE="vantexan, post: 840873, member: 24302"] I've always said a pension is the foundation of a good retirement. You're the one who keeps talking about sole support. And what you can't accept is criticism of the company and make excuses for them. You either have other sources of retirement income or are naive about what your 401k will do for you. Better not count on it as your sole support. There was a time when the majority of workers got a pension. As companies trimmed backed we still got one. Why? Because they had to offer incentives to get and keep good workers in a labor intensive job. That's the point of humping like crazy, you get rewarded for the effort. But with the advent of 401k's and cash balance plans companies saw the chance to get rid of pensions. Very few companies offer a traditional pension now. So FedEx felt comfortable getting rid of their's because they don't have to worry about losing workers to companies that do. But they hedged their bet by replacing it with a cash balance plan. Without that I'm certain alot of people would leave because why hump all day when there are jobs to be had for a little less pay that don't require constant running and rules out the ying-yang. Get used to the criticism, it's well deserved. [/QUOTE]
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