With IBM gone, it won't be long before a lot of other companies follow suit.
It would be very unusual for workers to make up for the shortfall and it might certainly be a good way to shock people into saving more -- tell them they now have to put aside 12 percent of the earnings.
It's a sweet deal for the firm. Most workers will wind up worse off as a result of the defined contribution plans. Some might be better off if they invest very well. Most people aren't sophisticated investors.
Copyright © 2024 Electric Goat Media. All Rights Reserved.