Toddsterpatriot
Diamond Member
In about 1995 the company called us all together and announced that pensions would no longer be offered. Those of us at a certain age with long seniority were grandfathered into the pension program but many others were left out in the cold with no pension even though they were hired with the promise of a pension as a benefit. They got a 401k instead. Check your own 401k to see how that worked out. My pension from that company remains unaffected.
After that meeting I stopped a top manager in the hall and asked him what was up with all this outsourcing and the reneging of benefits. His answer was everyone else was doing it and the company would be at a disadvantage not to take part. So, the workers got screwed.
That was many years ago and I don’t remember anyone in Congress standing up in defense of American workers. The only public figure I remember warning us about what would happen was Ross Perot and many just laughed at him.
Now many are dying alone in hospitals because of bad decisions made by American politicians that looked the other way when the government sold the people out. They took the money and got rich. Now we are paying the price.
Check your own 401k to see how that worked out.
My 401k is kicking butt. Despite the 5...err...7 previous employers who no longer exist.
Glad I didn't have a pension go under with them.