Will Definted Benefit Pension still be around when I retire?
I am 20 years old and I plan on making a career with the Police. I know social security would be gone when I retire, but would it be realistic for me to look foward to be paid a retirement check when I finish serving 25 years? Or do I have to look out for myself? As more people continue to retire and living longer, the government and companies that offers DB or DC plans will be their biggest liability. Do you think they will cut out retirement benefits forever in the future?
Public Comments
- I would not count on it. DBP's have turned out to be a bad deal for both employers and employees, and DCP's are taking over -- for good reason. That does mean that you have to manage your own money to at least some degree.
- Municipal pension plans are the best systems, currently available. One must watch the politicians efforts at grabbing their funds for pet projects.
