I feel sorry for her in that her husband was murdered.
In reading ERD50s post, I took the point to be that Ms Saracini wasn't well served by her husband's defined benefit plan, that she would have been better off, along with a lot of other folks with failed pension plans, if her husband's funds had been in a 401K.
Yes, that is exactly what I meant - thank you.
I agree that the USG (i.e. you and I) shouldn't have paid victims $1 million each. But, just for "grins" --the $1million from the USG still didn't put her ahead, if we're gonna do the morbid math. At a 4% WD, that's $40K per year. Even with the govt payment, she would probably have been better off if he'd instead had (and used) a 401K plan, and gotten average investment results.
Interesting (and valid) point.
Many in retirement have seen health benefits reduced or removed. COLAs on pensions are also often targeted. But I agree that the biggest problems exist for current employees who see benefits continually reduced and have had pension accounts raided by corporations.
I don't know, I was under the impression that very little of this has happened to people already in retirment. Has it happened to the tune of
billions? References please.
To the extent that it does happen, it goes to my point that I don't want promises. Give me the money and let me plan for my future (admittedly, some of this may need to be a 'forced' plan, as many will do the grasshopper/ant thing).
The raiding of pensions has happened at may successful corporations, what's their excuse?
Again, I'm not sure what time frame you are talking about. The PBGC sets some rules, I'm not sure a
successful company can 'raid' a pension. Again, references?
If you mean they are cutting/eliminating the contributions to
future benefits (not earned yet), yes, that is happening. IMO, they don't need an 'excuse'.
They don't need an 'excuse' anymore than most of us LBYM forum members need an excuse to pay as little for something as we can. Coupon clipping, comparative shopping, wait for sales, etc - most of us do some of that w/o excuse. Since most of us are 'successful', should we pay more than we need to, just to support the workers who make the products? I doubt you shop that way for products and services. Do as I say, not as I do? We are in a more global job market - we have to face the facts.
-ERD50