Jobs That Still Offer Traditional Pensions

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are governmental employees. Seems we can afford good benefits for the govt. employees only be braking the back of the remaining workers/tax-payers who do NOT have strong benefit plans. I will believe Obama is serious when he advocates reducing governmental employees benefits down to the level of the benefits of those of us who are PAYING FOR THOSE FINE GUARANTEED BENEFITS FOR GOVERNMENTAL EMPLOYEES.

Paul of FL 4:13PM June 08, 2009

Angel. The private pension industry pays very high insurance premiums into the PBGC (Pension Benefit Guarantee Corporation). In fact, these premiums alone are starting to drive more people out of the pension system and into 401(k) plans (the cost to have and maintain a pension plan is enormous and continues to grow with new legislation). In a perfect world, the premiums being paid into the PBGC would cover the 'insurance' piece when a company goes under. Of course we don't live in a perfect world and the numbers never seem to work out. But it isn't supposed to be the taxpayers that cover these plans in the event of a company folding. It is supposed to be the pension plan sponsors that pay the premiums. But with many companies struggling (and the stock market drop) there are larger and larger numbers of companies that cannot meet the funding requirements. Which again puts pressure on the system.

Tim of OH 12:34PM June 03, 2009

One important profession wasn't mentioned in the article - the US Military! After only 20 years of service one is eligible to retire with 50% of salary, full medical and dental benefits for life, and a host of other benefits. Had I stayed for 30 years (until age 48) I could have retired with 75% of my salary. I retired this month and am only 38 years old - that's right, 38! In my case it works out to almost $40K a year for the rest of my life (adjusted upwards annually for inflation). Is it enough to live on forever? No, but it will make my house payment and gives me much greater flexibility than my peers in terms of future careers and options.

Neil M of MD 10:20AM June 03, 2009

"I think people too often look at it as a perk when it's as much a part of your compensation package as your weekly paycheck."
Perhaps, but why is the taxpayer guaranteeing another's compensation?: "If the company goes out of business, most workers still get retirement benefits because most private-sector pensions are insured by the federal government."
If we, the public, pay for GM's retirees, we are the biggest schmucks going. So what if it's law. When there is no money, what shall we do? Go out and plunder the wealth of another nation? No. So, take the damn SS and shut up--there's just no money for your other promised compensation, and, if there is money, there are plenty of unemployed people who could use the funds to guarantee them a peon's job.

Angel Jimenez of NJ 8:00AM June 02, 2009