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
But once you've qualified for that pension, that promised pension amount is the minimum you can get.
With a 401k, theoretically, the minimum you can get is zero.
There is not a single dollar promised to you.
The
whatever the market is able to produce on what you put in there.
So, you know, people who retired in the aftermath of the recession likely retired with much, much less if they had 401ks than what they might have supposed based on past market performance.
It certainly seems that way.
I mean, many, many private sector plans are closed.
You know, new companies don't tend to adopt pension plans in private sector employment, whereas in public sector employment, this is something that's still going strong and it is available to
to teachers and police and other kinds of public workers and is often an attractive benefit in a career that's maybe not as highly paid in the private sector, it's really rare.
Probably the number one things companies will talk about when they are hyping their 401ks is portability.
You know, you can work at a company for a very short amount of time and earn money in your 401k and then move it to another employer.
Whereas with pension benefits, you often have to work for a certain number of years, several years before you can, quote unquote, vest in the pension system.
Sure.
Anytime.
The past decade has actually been pretty good for public pensions.
It's the 10 years that ended June 30th is the first 10 year period in a while where we haven't had a huge drag from the 2009 where we hadn't haven't had a huge drag from the 2009.
downturn.
So the annualized returns for the past 10 years are actually a little above 9%.
There have been five years of double digit returns in the past 10 years.
Showing 361–380 of 548 · page 19 of 28
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