[quote=ucodegen]What I find annoying is that these same teachers, etc want the pensions instead of having the money go to their own 401Ks.. that they control. (use low fee index funds)
The taxpayers end up paying for this though, because the pensions are a form of ‘defined’ benefit, and the taxpayers have to close the gap.[/quote]
As much as I hate to sound like a union pension advocate the simple truth is that most major companies can borrow against your 401K as well. I am not sure of all the details but someone always has access to your money.
