401k are better than defined benefit pensions. I want control of my money, why would I trust a random pension board of trustees? And even though 401k isn’t really under my control, I trust an index fund more than an opaque board of trustees doing god knows what with the funding.
The only defined benefit pension that is doing okay is taxpayer funded pensions, and that is only because government has the power to tax. And even then some have been cut and some states are seeing economic decline because of them.
The only defined benefit pension that is doing okay is taxpayer funded pensions, and that is only because government has the power to tax. And even then some have been cut and some states are seeing economic decline because of them.