AMERICAblog: Employer contributions to 401K plans shrinking
Bad Brad
· 5 months ago
Corporations got away with ditching pensions in favor of 401k's which was clearly not good for their employees.
Now, more and more are (and will continue) getting away with ditching 401k contributions. In addition, they continue to shift more and more of their employees health care costs to their employees, and they have drastically lowered salaries and wages in real dollar terms over the last few decades.
I am disgusted that the average American puts up with this crap. I have such little respect for my fellow constituents. I refuse to call them citizens because that requires a lot more work than Americans seem willing to perform.
The wealthy elite laugh at us, and rightfully so.
Oh yeah, and it's seen as rude if you talk about these issues in public by many. Wonder how and why that conventional wisdom came to pass??
LasloPratt
· 5 months ago
more and more it's like the last decade can be summed up by one line from Animal House: "You fucked up - you trusted us!"
LosGatosCA
· 5 months ago
If only we had privatized like Bush had proposed. Then everything would be perfect. I guess everyone is sorry now.
libertydan
· 5 months ago
In the good old days you could save money in the bank for retirement but the current system of inflation taxes makes you spend not save.
dula
· 5 months ago
The American Working Class is so docile in the face of being ripped off by the corporate elite. Gee I wonder if the low level workers in Enron ever got any of their pension back while the day traders left with millions to get them through the "hard times". If I lost everything yet knew where to find my co-workers who ripped off my life savings...I don't know what I'd do...or do I.
Busboy
· 5 months ago
Cash is "trash". Time to get in to collectibles(art, old coins, antiques, etc.) ; or, gold, silver, land, houses, guns, ammo, old cars that run. Us oldtimers have been there before, done that, survived. Don't forget to plant a garden.
GusII
· 5 months ago
from an email I am probally in trouble quoting:
"One proposal which will affect all state employees is in the area of our Public Employee Retirement System (PERS) contributions by the state. To fund most state employees' retirement accounts, both the State and employee contribute to PERS. The proposed balanced budget framework includes a temporary reduction, from 14% to 8%, in the employer contribution to those accounts. Should the conference committee decide to adopt this proposal, I will send you updated information. PERS is not a system that calculates retirement benefits on how much you and the employer pay into the system, but rather on your length of service and other factors. If enacted, you will see no impact in your take-home pay. The Administration will work with PERS to minimize any ultimate impact to employees' retirement benefits."
LOLOLOLOL! Talk about underfunded! Jeez, after the bath all retirement funds took this year, now you want to not put as much in? The impact will be the husband unit will need a job when he retires after 30 plus years. Just have to love Ohio Democrats. Yeah, right, it's temporary.
All Comments
Now, more and more are (and will continue) getting away with ditching 401k contributions. In addition, they continue to shift more and more of their employees health care costs to their employees, and they have drastically lowered salaries and wages in real dollar terms over the last few decades.
I am disgusted that the average American puts up with this crap. I have such little respect for my fellow constituents. I refuse to call them citizens because that requires a lot more work than Americans seem willing to perform.
The wealthy elite laugh at us, and rightfully so.
Oh yeah, and it's seen as rude if you talk about these issues in public by many. Wonder how and why that conventional wisdom came to pass??
Us oldtimers have been there before, done that, survived.
Don't forget to plant a garden.
"One proposal which will affect all state employees is in the area of our Public Employee Retirement System (PERS) contributions by the state. To fund most state employees' retirement accounts, both the State and employee contribute to PERS. The proposed balanced budget framework includes a temporary reduction, from 14% to 8%, in the employer contribution to those accounts. Should the conference committee decide to adopt this proposal, I will send you updated information. PERS is not a system that calculates retirement benefits on how much you and the employer pay into the system, but rather on your length of service and other factors. If enacted, you will see no impact in your take-home pay. The Administration will work with PERS to minimize any ultimate impact to employees' retirement benefits."
LOLOLOLOL! Talk about underfunded! Jeez, after the bath all retirement funds took this year, now you want to not put as much in? The impact will be the husband unit will need a job when he retires after 30 plus years. Just have to love Ohio Democrats. Yeah, right, it's temporary.