[quote=bearishgurl]
SK, are you factoring in military retirees? Military pensions are akin to DB pensions and I included them in my assumptions. Also, I am referring to about 60% seniors (those currently 70 and older) and 40% boomers (those currently 51 to 69 yrs old who are already “retired.”). The bulk of senior households DID and DO HAVE at least one DB pension coming in, incl military retirements. The bulk of those collecting DB pensions also have guaranteed health coverage for life or a guaranteed healthcare allowance for life or both (single or couple).
HEALTH CARE BLAH BLAH BLAH
You’re skipping over a boatload of people, here, SK.
All but one of the boomers I know who lost both parents had to split their “inheritance” with 2 or more siblings (and/or the heirs of a deceased sibling). SK, you’re a boomer who grew up in SD, no? How many siblings do/did you have? Are both of your parents still alive?[/quote]
I was referring to private sector employees. But since public sector has never made up more than 10% of the population, it doesn’t change things much. There has never been a time during baby boomer’s working lives when “the vast majority” were covered by DB plans.
I didn’t skip over anyone or anything. I never mentioned anything about health care. Only your assertion that “the vast majority” of retirees have some sort of DB pensions. They don’t.
I had 5 siblings. One is dead, and the other oldest aren’t/weren’t boomers. But that’s the difference between us BG. You think that the entire world is like your world. I don’t, because it isn’t. None of my close friends had more than 2 siblings. One of my siblings has DB pensions that pay he and his wife over $170K a year. Another will have $7K a month when he’s 65 for 5 years of work in the ’70’s. The other two also have DB plans. Until 10 months ago, I’ve never worked for en employer with a DB plan nor even a 401K. Until 6 months ago, I’ve never been eligible to participate in any kind of employer plan.
You know a lot of retired military and retired civil servants. I don’t. I know one retired civil servant. I don’t know a single retired career member of the military. (I did know a guy that was a career Coast Guard. He’s probably retired now. I haven’t seen nor heard from him in 15 years, since he moved to Alaska.) But none of that is important, because what I’ve experienced is nothing more than a single data point among millions. So I look at that data for the millions. And it says that you’re wrong.
