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Old 06-17-2010, 08:33 AM   #21
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Originally Posted by ziggy29 View Post
...tanking personal investments among private sector employees making it harder and harder for them to retire, let alone early.
I resemble that remark...

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...not doing anything of true substance...
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Old 06-17-2010, 10:43 AM   #22
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Originally Posted by walkinwood View Post
What's to stop them from changing terms down the road?
this why 99% of the people i w*rk with who retire take the lump sum from our DB plan.

i never realized how good my benefits at w*rk are. We still have a defined benefit plan which has some health component to it and a defined contribution plan which they match 4% to 1%, up to 8% (100% vesting outright). i'm now vested in the DB plan, but plan on seeing none of it in retirement (same with SS). i will consider anything outside my retirement account lagniappe (french icing, if you will).

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Old 06-17-2010, 04:09 PM   #23
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Originally Posted by walkinwood View Post
I keep wondering about the viability of pensions - government & private alike. What's to stop them from changing terms down the road? Given the underfunding of the pension system, something has to give. I don't think SS is the only program in danger.

I don't have a pension and in spite of the uncertainty, I wish I did.
With many state pensions the terms can't change. Some of it is written into state constitutions, making it nearly impossible to change. What some states have done is to create a tiered system with new hires falling under a defined contribution plan and less medical benefits.
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Old 06-19-2010, 11:38 AM   #24
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Payback Time - In Budget Crisis, States Take Aim at Pension Costs -

This article talks about CO reducing benefits for existing retirees. Also says that there will be court challenges.

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