The last sticky point - pensions?
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01-02-2013, 09:40 PM
Join Date: Mar 2011
Originally Posted by
Defined benefit plans are why companies like GM are in so much trouble. They had employees work for them for 30 years and then end up living into their 80s and collecting pensions for 30 years. Very expensive and unknown liabilities.
I heard from a former co-work that an an acquaintance of his
AND THE ACQUAINTANCE'S SON
were both drawing pensions from Ford simultaneously. This gets even worse in the NHL's case, because I don't think players play for 30 years (yes, I know about Gordie Howe). So the qualification period is obviously a lot shorter.
The Fiscal Cliff, and QE (Quantitative Easing) combine to make safe investment returns ridiculously low. Defined benefits will one day be remembered as part of "the good ole days".
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