That’s why 401k’s exist and not pensions

Honestly, pensions in the USA today are more risky than 401ks. Pensions require the parent company to still be solvent 30-50 years. A number of formerly bellwether companies with heavy pension burdens have gone under an the the pensioners only receive a fraction of the promised benefits.

Some of the public pensions look very worrisome too. As an example, I have no idea how Detroit is going to manage their pension commitments with its rising costs, declining population, and high number of pension members.

For all its faults, 401k money is the employee's the moment its paid with no dependency of the employer to be around afterward.