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Latest Discussions»General Discussion»Salon: Abolish the 401(k)»Reply #18
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In reply to the discussion: Salon: Abolish the 401(k) [View all]
 

FarCenter

(19,429 posts)
18. You can get rid of defined contribution plans, but that won't bring back defined benefits plans
Reply to marmar (Original post)
Fri Apr 5, 2013, 11:29 AM
Apr 2013

Defined benefits plans are too risky for the employers. They'd be insane to bring them back.

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Salon: Abolish the 401(k) [View all] marmar Apr 2013 OP
The financial industry makes more money off of 401(k)'s than defined benefit pensions. nt antigop Apr 2013 #1
I agree with the article (gave it a rec), but it will be VERY difficult to change. nt antigop Apr 2013 #2
Don't get rid of 401Ks, but allow people to self-direct the funds, instead of only offering limited still_one Apr 2013 #3
I have been in 6 different 401k plans and have not found limited choices to be a problem badtoworse Apr 2013 #6
It is changing, but one of the companies I worked for charged 2% in fees for their funds. A lot of still_one Apr 2013 #8
Is the 2% at the fund level or is it a company charge on top of that? badtoworse Apr 2013 #13
It was the management fees. Vanguard is the lowest and best. still_one Apr 2013 #16
Father of 401k 4Q2u2 Apr 2013 #23
interesting article. The creator stills thinks it has provided positive savings for many. Problem still_one Apr 2013 #24
Nor Have the Promised Returns Been There 4Q2u2 Apr 2013 #26
You are correct about the returns. Some of that due to the high fees and restricted funds they still_one Apr 2013 #30
Winners 4Q2u2 Apr 2013 #31
Wow, I didn't know the exact figures. Geez still_one Apr 2013 #32
Sample 4Q2u2 Apr 2013 #33
Defined contribution plans are the number 1 scam of neoliberal economics alcibiades_mystery Apr 2013 #4
"The number one scam" -- totally, totally agree. Brickbat Apr 2013 #9
A scam of immense proportions. Since SSA operates at a 1% overhead, it makes sense to make Social byeya Apr 2013 #29
The Great Risk Shift. HughBeaumont Apr 2013 #5
+! KoKo Apr 2013 #10
Thanks, Hugh...I'll take a look at it. nt antigop Apr 2013 #15
seems like we have to MAKE them care about us NoMoreWarNow Apr 2013 #22
it's both, and everything else. it's the entire neoliberal package, including free trade agreements HiPointDem Apr 2013 #7
No thanks. hughee99 Apr 2013 #11
The government taxes your SS if you have too much other income badtoworse Apr 2013 #14
Defined benefit just hides a mandatory contribution One_Life_To_Give Apr 2013 #12
Are they talking about confiscating individual 401ks to fund social security? I sure hope not. dkf Apr 2013 #17
You can get rid of defined contribution plans, but that won't bring back defined benefits plans FarCenter Apr 2013 #18
Wall St needs that money to keep the gravy train rolling. raouldukelives Apr 2013 #19
du rec. nt xchrom Apr 2013 #20
"It was assumed" The2ndWheel Apr 2013 #21
As I told our financial "planner" recently, I want my GD money to put under my mattress, deminks Apr 2013 #25
Didn't the bottom fall out of those libodem Apr 2013 #27
The 401k is the biggest boondoggle ever Politicub Apr 2013 #28
One option is a private defined-benefit plan mainer Apr 2013 #34
Latest Discussions»General Discussion»Salon: Abolish the 401(k)»Reply #18
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