Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Bates & Company, Inc.
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Compass
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Regional Vice President of Sales The Retirement Plan Company
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AimPoint Pension
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Loan & Distribution Specialist AimPoint Pension
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Defined-Benefit Pensions Should be Outlawed
Cincinnatus Blog [Opinion] Apr. 13, 2009
Excerpt: No institution, including city and state governments, should be permitted to grant a new defined-benefit pension. A defined benefit plan is a plan in which the benefit on retirement is determined by a set formula, rather than depending on investment returns. We do not have Nostradamus's ability to prognosticate and we can't know if today's iconic companies will be mere shells when those pensions come due 30 years hence. Do we need to be reminded of those great icons of the Airline industry like TWA, Pan Am and Eastern to understand how empty those pension promises can become?
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