[quote=CA renter]
Some people seem to be under the impression that DB pension plans will fail. IMO, the much bigger failure will be evident when the majority of these DC pension retirees hit their latter years. That will be a much bigger problem, and we will still be forced to bail them out (at a much greater expense than if they had maintained DB plans, IMO), but that will be a sudden expense that “nobody saw coming,” making it even worse than the DB pension issue where people have at least been trying to better fund these plans in advance.
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I don’t think it matters if it’s a DC or a DB plan, the math doesn’t work for either of them. Comfortable long retirement for the masses will fail. Most people in retirement will be living a much lower standard of living than they expected. It’s just a demographics and time problem. Of course the top 10-20% will still be able to retire comfortably just as they always have.