Only slightly more than 10% of Americans have a pension. The situation for pensions and 401(k)s is getting worse every year.
Not true. Many companies have 401-Ks instead of pensions. It's much cheaper on them. As time goes on, you won't see defined pensions. My company was one of them. Not more then two years after I retired, our defined pension was closed to new hires. They would have 401-K's
Oh? "Given that less than 13 percent of Americans have pensions — though as recently as 25 years ago, that figure was 38 percent — and, for millions of U.S. workers, 'the grand 401(k) experiment has been a failure,' how will seniors cope? Some expect to rely more on Social Security, Gallup reports, though that was always intended to be a supplement, not a primary source of income." https://www.cnbc.com/2017/06/13/her...have-nothing-at-all-saved-for-retirement.html Yep--it's all part of saving money. We'll see what happens in the future. We may see the gradual demise of both pensions and 401(k)s.
