What Did I Say About Pensions?
Even if pension funds could earn the insane expectation of 8% per year, they are still underfunded, according to Kellogg School of Management.
This write up suggest just gutting pensions for new workers, ie sticking it to youth yet again. I agree with defined benefit plans, where what's put into it is available to be paid into pensions and you do not end up going back and raping the tax payer and/or the company to pay for pensions because there was a miscalcuation on the costs of the pension. The underfunded liability for these pensions has been going on for some people's entire working life and I don't agree this is a reason to stick it to taxpayers/companies. People should have some responsibility in monitoring the pension and ensuring sufficient funds to what they expected to see paid out were going into the pension and to not sweeten them when the plans already had no hope of meeting expectations.