New Ideas on Pensions: Use States (Teresa Ghilarducci strikes again!)

The New York Times ^ | March 27, 2012 | Mary Williams Walsh

[TurboZamboni]

Unionista rats already got their marching orders. this talking point posted yesterday in the Pioneer Press(MN):

Forward Gallop · SubscribeSubscribed · Works at Teamsters Local 320 Taxpayers United of America is another one of those shady 'AstroTurf' groups funded by America's largest corporations. Why would anyone want to lose their pension for a 401(k)? Under a defined benefit plan or a pension, the investing is done for you and you are guaranteed your retirement benefit. That benefit is calculated by your salary and time served. Your pension is guaranteed for the rest of your life. A defined benefit is best for those who are unfamiliar with investing or playing the stock market, and want a guaranteed retirement. The 401(k) plan, or defined contribution, is only worth the money it gains or loses. Because defined contributions rely on the market, you could double your investments, or you could lose it all only a few years before you retire. Your benefits are defined by how well your investments did, and will end when the money is spent. Defined contribution plans are best for those who are wise investors and like to roll the dice by playing the market.