Washington Post said:Even as late as the early 1990s, about 60 percent of full-time workers at medium and large companies had pension coverage, according to the government figures. But today, only about 24 percent of workers at midsize and large companies have pension coverage...
Pensions for the majority are nearly impossible to fund with negative real interest rates. Instead, megacorp is switching to the 401k. Don't even ask about pensions at mini companies.
The trouble with expecting workers to save on their own is that almost half of U.S. families have no such retirement account...
Workers notice that a dollar saved today will not be worth as much in 40 years. Most are not bothering to save anything at all, or only a trivial amount. The median savings of the moderate income group is about $25,000. Social Security is about $1400 per month for them.