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[quote=Anonymous][quote=Anonymous]Awesome to see so many people deride public pension plans (and by extension, private business pension plans).  So great to see all those pension plans go away and we are left in a world of 401Ks and Roth IRA.

I'm sure *everyone* contributes fully to those every year and Wall Street is doing great things with our money, such as funding their bonuses and private jets and buying an app company for a $1B.

In about 20 years when the first wave of those 401K/Roth IRA workers start retiring I'm sure they will all have enough money to live out their lives and we won't see an increase in senior poverty rates.  I'm sure seniors then will have the same buying power as senior now so we won't see a decrease in purchasing power and therefore economic vitality.

SMH[/quote]
What do you see as an alternative?  In a world of disruption where there is no guarantee a company is going to be there through a person's lifespan, how can pensions be set in a manner that doesn't bankrupt businesses (particularly when their market changes/declines) and doesn't leave retirees who were planning on that money high and dry? Pension funds tend to be invested in the same market that 401K/IRA plans are, often still in the hands of Wall Street.  How many organizations, public and government, have gone to court to have pension benefits reduced since the recession?  At least with my 401K and IRA accounts, I get to pick my investments and how much risk I want to take.  It's not ideal, but I have no confidence in pension fund management/performance either.[/quote]

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