It just became easier for employers to dump retirees' pensions

how difficult is it to start a fund where the investors pick some of the stocks?

 

It's an option. Those who qualify don't have to accept it.

https://www.irs.gov/pub/irs-drop/n-19-18.pdf

Notice 2019-18

Offering a Lump-Sum Payment Option to Retirees Currently Receiving Annuity Payments under a Defined Benefit Plan​

 

Not true. You're talking about defined benefit pensions, like the UAW has.

Nothing is guaranteed. That is why the PBGC exists.

https://www.pbgc.gov/

 

First off, where do I attack any sort of social safety net? Just making stuff up? Second of all it is an insurance policy so employers pay into it, no different than a person who buys insurance to pay their mortgage off in case they lose their income.
https://www.pbgc.gov/wr/find-an-insured-pension-plan/pbgc-protects-pensions

 

"cherry picked"? I see you still repeat words you do not understand. Cherry picking is improper use of a SUB set, impossible when using a WHOLE set, as has been patiently and repeatedly explained to you.

Your claims clearly misstate your own source:

Trump has changed NOTHING. Obama was so busy illegally spying on Trump and illegally unmasking innocent Americans in the closing days of his Administration, that he never got around to rewriting these regulations as he promised he would.

You know it,
I know it,
Everyone participating in this discussion knows it,
Your own source clearly states it.

BAHAHAHHAHAHAHAHAHAHAHAHAHA!

 

a certified financial planner could help make that decision.

 

I will never vote for the GOP again either, and there is no way I'd vote Democratic. I just refuse to vote ever again.

 

I guess you just don't get the modern economy. People really don't stay in the same job for their entire lives. So are you saying that every company needs to have maintain a tiny pension for everyone that ever worked for them for a few years? That's ridiculous...

https://www.linkedin.com/pulse/how-many-jobs-average-person-have-his-her-lifetime-scott-marker

 

That is why pensions should follow the employee and not just be an employer's issue.

Well, I just answered that.

A pension is a defined benefit program. A 401k is a defined contribution program. Diversification of retirement vehicles dictates that having both is wise and reliance on one is not wise. Pensions should be government-run programs and that would free up employers of much of the bother and expense of the programs, and it would be a much more reliable program for the employee. As it is now, an employer must only fund a pension program to some small percentage (50%?) of total obligations. I was lucky. I worked for a company that kept the pension funded to 95%, and after 160 years of business the company went bankrupt. But the pension was preserved. Not everyone is so lucky and that isn't right. A government-run program would solve that.

 

No thanks, the government would only screw it up and it would become a political football every few years. The 401k system works, and companies aren't going to return to pensions. There really is no point to continuing this...

 

The truth is that Baby Boomers did not put away enough in their 401K's and their pensions are gone. We are going to be facing a real health care affordability problem in the next ten years no matter who is in the white House.

And for those who think 401K are great - remember that the average 401K LOST about 30% of it's value in less than a year. Not a problem if you had 10 years to get it back, but say you are 79, in poor health, and you just lost what you using to pay your health insurance.

I'm generally a supporter of private enterprise to drive an economy - my one caveat, however, is health care. I've seen how quickly a person can run through $700,000 in medical costs on a pre-existing condition that wasn't covered when private industry held the reigns. Luckily, my dad had more than that, but if you look at average retirement funds of Baby Boomers - the money just isn't there. Between student loans and health care loans, we are going to have big problems.

 

a cfp could help determine if it may be worthwhile for a proactive person take a lump sum and invest it themselves.

 

Yeah, like SS and what the republicans have done to it. Thankfully the SS legislation was originally written up well enough that not much could be done to damage it except lying about it, which means that some portion of congress doesn't really want what's best for the people first.

Riiiiiiiiight. Let's shut down all discussion and consideration of the drawbacks while we have it where the corporations want it. We wouldn't want the facts to be published.

 

Anyone who thinks business is ahead in that battle has clearly never run a business.