|
|
| Re: naz...democrats plans to seize 401k assets (382585) | |||
 |
|||
| Home > OTChat | |||
|
[ Read Responses | Post a New Response | Return to the Index ] |
|
||
|
Re: naz...democrats plans to seize 401k assets |
|
|
Posted by AlM on Sun Nov 9 08:37:07 2008, in response to naz...democrats plans to seize 401k assets, posted by Orange Blossom Special on Sun Nov 9 01:12:15 2008. The point of the complaints against 401ks is not that they are bad, but that companies have used them as an excuse for getting rid of defined benefit pension plans.Ask Train Dude (or any other conservative MTA employee here) if he'd like to have his defined benefit pension plan replaced TOTALLY by a 401k with the average amount of assets a 401k of someone of his age and income would be likely to have, and listen to him scream. The safest pension for anyone is a mix of 401k and a defined benefit pension plan. But in recent years most employers (the MTA and NY State in general being a BIG exception) have gotten rid of their defined beneift pension plans and have put the ENTIRE non-social-security burden on the employee's 401k. |
|
|
|