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> in good times Unfunded pension liabilities is how you have good times now and wreck the future.
by skookumchuck 8y ago
> in good times
Unfunded pension liabilities is how you have good times now and wreck the future.
- Tsubasachan 8y agoWhich is why you should fund them. A sizable part of my monthly salary is automatically diverted to my pension fund. Mandatory. There used to be a time when old people were poor. Now retirees are the economic engine.
- y4mi 8y ago> Now retirees are the economic engine. There are two sides to that as well, however. It's not just the few retirees that have a high pension which cause this... It's also the majority of young people not employed in tech getting increasingly shitty wages
- lotsofpulp 8y agoIn the US, pension means defined benefit pension plan, which are under the control of the company, not the pensioners. The people benefiting from the pension don’t have any say (or knowledge) properly funding them or investing the funds, and don’t know if they are being taken for a ride. In my opinion, 401k with low fee target date funds are probably better all around.
- pnutjam 8y agoDestroying defined benefits was also a great way to kill wages. Employee wages should be significantly higher at companies with 401k's, of course they aren't.