Quote:
Originally Posted by Babubhat
Public pensions. Private pension are Stone Age. Many companies turned them into annuity. Too costly
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I had 21 vested years in a private pension before it was discounted. The plans funding status is rapidly deteriorating with the market and my benefits will be cut substantially if it’s taken over by the PBGC. That’s the primary reason I took my savings out of equities a year ago, too much exposure through the plan. Another 10% correction in the market and I will begin to average in at cheaper levels.