Tuesday, April 04, 2006
Optimism about pension prospects may not be realistic
Given the recent moves by General Motors, IBM and other major employers to slash their pension benefits, counting on a pension is like continuing to believe in Santa Claus after catching your dad putting presents under the tree.
Yet, despite evidence to the contrary, 61% of workers expect to receive income from a traditional pension when they retire, according to a survey scheduled for release today by the Employee Benefit Research Institute.
The findings, contained in EBRI's annual Retirement Confidence Survey, seem to clash with the workers' own experiences. Only 40% of those surveyed said they or their spouse is now covered by a pension. That means about 20% of workers expect to get a pension from a future employer — "a scenario that is becoming increasingly unlikely as companies cut back on their defined-benefit offerings," EBRI said...
USA Today: Optimism about pension prospects may not be realistic
Yet, despite evidence to the contrary, 61% of workers expect to receive income from a traditional pension when they retire, according to a survey scheduled for release today by the Employee Benefit Research Institute.
The findings, contained in EBRI's annual Retirement Confidence Survey, seem to clash with the workers' own experiences. Only 40% of those surveyed said they or their spouse is now covered by a pension. That means about 20% of workers expect to get a pension from a future employer — "a scenario that is becoming increasingly unlikely as companies cut back on their defined-benefit offerings," EBRI said...
USA Today: Optimism about pension prospects may not be realistic
Permalink posted by markw @ 4:57 AM 
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