Exactly. That's the problem. Companies don't provide pensions anymore because it is always cheaper for them to provide a 401k or IRA and offload that risk. Peo

Exactly. That's the problem. Companies don't provide pensions anymore because it is always cheaper for them to provide a 401k or IRA and offload that risk. People only let them do it because we had fairly substantial periods of prosperity where relying on the stock market seemed "guaranteed" even though it is anything but. What I'm suggesting is that not providing a pension shouldn't be seen as acceptable. I don't know if I'd suggest going as far as mandating it by law but I think workers should be demanding a right to a pension for themselves and all their fellow workers at a given org or in a given industry. The labor movement is having a bit of a revival at the moment so hopefully unions can start pushing for Qualified Direct Benefit Plans (aka pensions) to be a standard again. > how reliable do we expect those states to be in the coming decades The federal government provides guarantees for qualified pensions through the Pension Benefits Guarantee Corporation (https://www.pbgc.gov https://www.pbgc.gov). Even if the states fuck up, those state employees still get their pensions.