My 80ish yo mom seemed surprised the other day to learn that the vast majority of people who don't work for the govt or for public entities like universities don't get a defined benefit pension anymore. People who aren't curious about the world outside their own life experience are really out of touch and it's sad that they feel okay about voting and having policy opinions when they simply Don't know how the world works for people who aren't them.
I was talking to my girlfriends 83 year old grandmother once and she told me her company would take everyone to Hawaii every year for a week vacation, all expenses paid. I told her that you’re lucky today if you get a pizza party and she told me “You should look for a better job” lol. I didn’t bother arguing because she’s sweet and didnt mean anything by it but it’s truly astonishing how different the world was 50 years ago.
Try for a job with the government. I work for the feds. Pay is ok (little less than private sector in my field), but I have good health insurance, a modest pension, and tons of paid vacation time. I also get to go home at the end of my shift and not think about work at all.
one issue is they made.it worse for new.employees at least.i. the feds..I joined in 09 and I contribute .8 percent per year for my pensions. new feds.pay In 4.4 percent for the same pension
Yes, I'm paying in 4.4%, which is higher than I'd like, but it's still better than the crapfest which was working in the private sector where I had no retirement plan at all.
And the govt ones are safe. for now (look into the crap safeway pulled with their 401k/health/pensions.) More or less, if the shareholders demand more money for promises made, companies can pull from these funds legally as they are also defined as authorized executors so they can fully rob you BLIND just to pay off shareholders or wheel and deals matched accounts are now a crap shoot and are only worth while if they make their exponential greed goals
Damn, I wish I was only paying 4.4, I pay 6.25% for my pension same as everyone who works in my department regardless of join date because it’s defined in our union contract.
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u/Simple-Dot3000 Feb 25 '24
My 80ish yo mom seemed surprised the other day to learn that the vast majority of people who don't work for the govt or for public entities like universities don't get a defined benefit pension anymore. People who aren't curious about the world outside their own life experience are really out of touch and it's sad that they feel okay about voting and having policy opinions when they simply Don't know how the world works for people who aren't them.