Pensions Are The New Wisdom Teeth?

My company recently froze and is slowly phasing out its pension plan which was a vestigial, albeit pleasant, part of an industry and times changed.

Other than rare–and now diminishing–companies it seems  that government jobs are the only entities which still offer pensions.  I am not in favor of cutting pensions for people who have worked for years expecting them upon retirement.  Outright dismanstling of pensions for these folks will only further mess up the economy as these same folks may have left their jobs and or lived/spent/saved differently had they known their pensions would not be paid out.

That said, there doesn’t seem to be a lack of folks looking for work and government jobs already have some pretty nice perks.  Why are new hires still be offered pensions at this point? Bloomberg is leading the way in the fight with regard to NYC pensions.

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3 Responses

  1. Sort of like smoking breaks and Christmas Parties.

  2. good point about government pensions. They are too expensive, even if government pay is less. And if you`re “good” enough to get a higher paying private industry job, you probably should. Those who cannot, work for the government and make less.

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