[quote=CA renter][quote=bearishgurl]I’m rather incensed that some Piggs (usually those who haven’t worked very long) are stating that pensions are “entitlements.”
They are NOT, in any way, shape or form “entitlements.” They are earned and paid for by the employee and employer as part of their pay package.
If you want one for yourself, they STILL exist in the public and private sector (even if somewhat “dumbed down” from the past). Everyone is free to attempt to “vest themselves” into a defined-benefit plan. You do whatever it takes to get vested and you earn one for yourself.
Plain and simple.
Any takers out there??[/quote]
Well said, BG. DB pensions were earned by working hard over many years. This is deferred compensation, nobody is asking for a “freebie.”
If people don’t like being salaried, then fight for hourly work. Of course, many salaried people wouldn’t do this because they would make far, far less for the same work as hourly employees.
And BG is right, there are still plenty of jobs available for those who qualify. If you want to have these “better” jobs/benefits, step right up. These jobs are open to the general public.[/quote]
BG, I am not saying pensions are an entitlement. IMO pension is just like any other work benefit e.g health/dental/flex/parking… Today some companies provide and many don’t.
Also with passing decades corporate benefits vary, and that is the evolving nature of workplace. Not much to complain about. What was offered as pensions in the past is available for most employees in the form of other retirement benefits.
I don’t have pension, but my Dad has one. I also know my Dad’s pension plan was revised over the years. Would I like one? Most likely. Do I miss not having one? Definitely not.
What bothered me (and perhaps few others) was your reference to people having not worked long enough yet willing to complain about someone with pension benefits 🙂
I don’t see the analogy – why does it matter how many years some one has worked. If one can work less hours and are able to spend more time with family/community work, I say more power to them for effectively managing their time and resources.
CAR, in my mind pensions are employment benefits, just like 401k’s. One can choose to have one or not. If one is enrolled (optionally/not) it is something to use after reaching a predefined age.
I know for a fact 401k balance follows the market, so there is no guarantee one will have the projected nest egg when the age limit is reached. Pensions perhaps predefined, BUT certainly not off limits to market variations.
The one other point I did not follow was the distinction between salaried worker moving to hourly work. If the salaried employee (most like exempt) does not like it, one certainly has the option to change to an hourly work. There is no difference between a salaried worker switching to an hourly worker and one who was initially hired as an hourly worker. The rates are market based, and companies can’t certainly have classifications of exempt, exempt but hourly, or ‘true’ hourly worker.
