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View Diary: $6.6 Trillion Retirement Savings Deficit Shows 401(k)'s No Replacement for Pensions (47 comments)

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  •  Keep It Simple. (6+ / 0-)
    A more accurate way of saying this would be that employers have embraced 401(k) plans because they are less expensive than providing pensions, thereby "cut(ting) overall employee compensation," and that 401(k) plans don't take into account the stagnation of real wages
    While I am hardly one to suggest that employers are white knights, there is an appealing simplicity to "I pay you now and everything's DONE" versus "I pay you now, I guess what I have to pay when you retire, and I am forced regularly to revisit whether I made the correct decision".

    -7.75 -4.67

    "Freedom's just another word for nothing left to lose."

    There are no Christians in foxholes.

    by Odysseus on Fri Jan 25, 2013 at 04:51:47 PM PST

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