Ford says pensions are a plan of the past

[Anonymous]

Anonymous wrote:

Anonymous wrote:Just wait until our society has a generation of seniors without pensions - the first big wave will be Gen X. Unless the government steps in, there will be poverty like we have never seen.

Genx are boomer enablers, serves them right

To the PP - do you like it when people generalize about your generation? So the entire generation of Gen X are "boomer enablers?"

I recommend trying some deep breathing or yoga, to work on your potential anger issues.

[Anonymous]

Anonymous wrote:The only ones guaranteed them in this country are feds.

The split on "retirement security" isn't disputed by Ford, as its executives say they are not agreeing to a union demand to resume traditional pension plans for those hired since 2007.

Ford CFO John Lawler called those defined benefit plans that pay a guaranteed monthly benefit until a retiree dies, "a plan of the past."

Pay me his salary then I’d agree with him but until then…

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm all for workers' rights, OP, but pensions are a thing of the past for sure. There are other ways of making working lives more safe and comfortable, and it starts with health, both physical and mental. We need to fix the dreadful healthcare costs in this country, offer workers way more paid leave for the sake of their mental health and have subsidized daycare so parents, especially mothers, can be more productive in their careers.

Why ask for so little? Why not all of that and pensions, too?

I think unions should stop demanding pensions and start demanding really good 401k matches. I think the real problem is 401k benefits do not have nearly the same value as pensions do. If employers were paying in 8% of comp instead of 4% that would go a long way. It would also offer workers more flexibility than a pension.

Huh. I think it's an interesting take, but I disagree. I feel like with a 401K, the individual assumes too much risk. I'm not an expert in investing money. I would like to outsource this function to someone who is, as part of a larger group intending to mitigate risk by pooling together.

There are income annuities for that - immediate and deferred - but then people get upset about "losing control of my money".

Income annuities carry the risk of the insurer failing and charge CRAZY fees because we are buying retail while pension gets services in bulk wholesale.

Give me an example of CRAZY fees on SPIA. Waiting patiently.