CKNSLS wrote:
For those currently in the workforce-pensions have gone the way of the dinosaurs. With a few exceptions-Police, Firefighters, Teachers. So essentially state and government workers.
Nope, at least not the teachers and government workers. Police and firefighters - with some of the last effective unions in the country - are doing well only because the public perception of those is good. Teachers, at least in the state of WA, are not doing all that great any more. All the great retirement plans have been... uh....retired.
In this state they had Pers 1 which let government workers retire at age 55. Then they canned that and started Pers 2 which was nowhere near as good but at least had something. Now they have Pers 3 which is so bad that you should have a 401K but, since teachers are not paid all that well, most can't afford anything like that.
Then there are the government workers in Detroit...
Craig