I remember, not very long ago, that all large employers gave pensions. My dad was a life long engineer – put in 32 years with Cubic, got a full pension. My mom was one of the maligned public workers – worked for the county for over 20 years, got a full pension.
My in-laws both have nice pensions after years of service to their employers.
I’m old enough that I had pensions – now frozen.
Pensions used to be the rule. Now they’re extinct.
Heck – even matches to 401k are going away – several large local employers have eliminated the employer match on 401k.
It’s getting challenging to plan for retirement. SS will be broke (trust fund to zero) in 2037, 401ks are very dependent on market cycles… I don’t begrudge those who are fortunate enough to have a defined benefit retirement plan.
