we have been sold a bill of goods about 401(k)s, that they are better than defined benefit plans, you know, the kind that guarantee a fixed income every month for as long as you live. God, how anybody who is not already rich could throw their money away on these frauds is beyond me.
The WHOLE point of 401(k)s is to SAVE COMPANIES MONEY on pension costs. A traditional pension plan is VERY expensive, something like 6% of operating costs, while these scam accounts--which they aren't even required to contribute--cost around 1%. All the while they have been pilfering and destroying traditional pensions.
And then you have these privatizing bastards wanting to get their filthy hands on Social Security using the exact same lies that they are using for 401(k)s.
Thank God I am now a public employee and will get a decent pension. I did sign up for a 403(b), a counterpart to the 401(k)s, but that's going to be put aside for vacations and stuff.
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