I know what you mean. The last job I had with a pension plan was at Pacific Telephone. I left that place in 1991 and took the buyout. My current employer follows the standard 401K approach. If you want any kind of retirement, it's a "do it yourself" plan. Contribute all you can afford to the limit of the "company match". Since my company has that plan, I'm pretty much excluded from many other options. There won't be any taxpayer gravy train going in my bank account. I will be taxed on the money I set aside to pay for the pensions of those government employees. Real nice.
The best pension plan is to buy investment real estate and put the equity into indexed universal life. Outruns 401k or IRA by 2.5-3:1
No, sir, what will happen is that the politicians will look at your 401k (and mine) when you retire, realize what a honey pot it is, declare you (and me) to be the evil rich who stole everything you have from the poor, and take your (and my) 401k in the name of "fairness". They'll do it when you're at an age when you're too old to recover, and too feeble to revolt against them. That's what will happen. Bank on it.
iows.....you are getting penalized by SS for saving money for retirement....
about Cal.....I know there are many retired Cal cops living the good life up here in Eastern Washington and northern Idaho....what with their huge pensions and medical care for life, they have hit the jackpot many times over....