Heather Gillers
speaker
548 appearances
11 recordings
1 series
first heard Nov 2018
last heard Oct 2021
Heather Gillers’s voice in public audio — every appearance, attributed to the second.
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Appearances
No one knows because that hasn't happened, but it does create a concern that you could have a lot of sales and not a lot of buyers.
Sure, no problem.
So there are several reasons why major employers have soured on big pensions.
One is the market.
I mean, it was just much easier in past decades to earn 7% or 8% on a mixed stock and bond portfolio than it is today.
And where a pension differs from a 401k is that with a pension, the responsibility for making up any investment losses or failure to meet investment targets falls on the employer.
So
So if the employer invests your money and they only make 2%, well, they still have to pay you the amount that they would have had if they had made 7%.
And where do they go to make up the difference?
Well, that employer has to reach into their own pocket.
A 401k, on the other hand, puts the risk on the employee.
So the employee, as anyone with a 401k probably knows,
gets to pick from some investment choices, but how much money those investments return, that's up to the market.
And if they fall short of what the employee was hoping, well, the employee's out of luck and the employer doesn't owe the employee anything.
Pension programs that are not closed, that are enrolling new workers, mostly exist only in the public sector today.
For new employees, I mean, you know, people who have been longtime employees on the private sector are still...
entitled to pensions that they enrolled in years back.
But yeah, anyone getting hired by a big company today, they're going to end up in a 401k or something similar.
One way to think about it is if you have a pension, the minimum you can get is what your employer promised you.
And you may, through the course of your career, become eligible for extras.
Showing 341–360 of 548 · page 18 of 28
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