Forum Post: While we are at it, let's talk about pensions
Posted 12 years ago on Oct. 10, 2011, 4:34 p.m. EST by djh78729
(0)
from Austin, TX
This content is user submitted and not an official statement
It seems like the large corporations have been systematically reducing pension benefits while at he same time posting record results. I started with my company over 25 years ago and was indoctrinated with the mantra of an employee for life and the promise of a specific pension at retirement. As I approach my retirement, I've seen my retirement plan significantly reduced over a series of programs over the years, leaving me with a fraction of my initial program. I won;t talk about the fact that I missed some cutoffs by just one year, but I want to note that this issue is typical of a lot of us getting to the end of our careers.It feels like a bait and switch... don't leave the company during your highly mobile years but the promised reward is yanked out from under us. I have a suggestion for a new law:
Employees are entitled to retire under any plan in effect during their tenure with a company. If you get hired into a company with a certain promised plan.. you know that it will be available at retirement.
Americans are split between Left and Right. Pension is Free lunch for the Right as per their ideology, which the Wealthy right will never support(since they want low taxes) even though many middle class right might actually support it.
We cannot depend on corporations or the government to take care of us. The only thing we can count on is ourselves. That's just how it is.