It looks like some forms of "defined benefit" pensions may make a comeback.
From Yahoo News ...
When 401(k)s were first introduced in the late 1970s, most workers still had “defined benefit” pensions — retirement plans where employers made all the decisions about what to invest where. Back then, 401(k)s were intended as mere supplements to those plans
The aggregate retirement income deficit for all Baby Boomers and Gen Xers — that is, the amount by which their savings, plus Social Security, fall short of what they’ll need — is $4.3 trillion, according to the Employee Benefit Research Institute.
A worker who makes $75,000 per year and saves 8% of that annually in a 401(k)would lose 2.8 years’ worth of savings in a target-date fund with a 0.2% fee and 11.6 years in one with a 1% fee, over the course of a career, according to an analysis by Towers Watson.
- Trump's Cabinet (44 replies)
- Will Trump last four years? (57 replies)
- Did that just happen? (181 replies)
- Hillary Clinton's Popular Vote Lead Now Over Two Million (3 replies)
- RIP John Glenn (2 replies)
- Jill Stein attempts to raise $2 million by Friday 4:00 pm for recounts (36 replies)
- Jobless Rate Hits Nine-Year Low; 178,000 Jobs Added (1 reply)
- 2016 Shootings in Knox County, TN (85 replies)
- Mountaintop removal coal mining banned in East TN (5 replies)
- This is the dumbest thing I've seen all week (1 reply)
- National Weather Service facing major cutbacks (3 replies)
- 2016 Harvest Of Souls Continues (3 replies)