quote:
The short version is that I think it comes down to how risk averse someone is, combined with how content they are with the job and their employer.

You still have risk with the pension, even a Government pension. Numerous municipal pensions systems have gone belly up in the past, and I know some state pensions are in trouble now.

Just think of the Flint Michigan and Jackson Mississippi Water systems. The same processes that put those people in charge will be employed to select your pension manager, and you don't get a vote.

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Posted by makersmark1

earth

Member since Oct 2011

16044 posts

Posted on 1/14/24 at 2:54 pm to CharlesUFarley

I have military retirement.
I have a 403b and a 457.
I have a SEP for my side hustle.
I also will get a state pension.

So mine is a mix of defined contribution and defined benefit plans.

I’ll probably live on my SS, military retirement, and state pension.

I look at the other accounts as there if I need them, or the opportunity to leave a legacy to my family.

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Posted by Bard

Definitely NOT an admin

Member since Oct 2008

51899 posts

Posted on 1/14/24 at 5:43 pm to CharlesUFarley

quote:
You still have risk with the pension, even a Government pension. Numerous municipal pensions systems have gone belly up in the past, and I know some state pensions are in trouble now.

Just think of the Flint Michigan and Jackson Mississippi Water systems. The same processes that put those people in charge will be employed to select your pension manager, and you don't get a vote.

Solid point. I work for the state of La and ours has been managed pretty solidly so I tend to get a bit myopic about it.

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