A Requiem For Pensions

摘要

I want to speak up for the value of corpo-rate pension plans, which are slowly slipping away. The country hardly seems to care. Younger workers would rather invest in 401(k)s (pensions carry a musty smell). At retirement, older workers often reject their plan's offer of a monthly income for life in favor of taking a lump sum to invest themselves. Hundreds of companies have closed or limited their plans in recent years, switching to 401(k)s instead. Most tech firms, among others, never offered them in the first place.