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I don’t know. But I’d love to know what companies did with all the savings from not providing pensions like they used too. That money has to be around somewhere. When companies stopped giving pensions, that was a boom to all companies and saved them trillions. Where is that money???????

I donâ€™t know. But Iâ€™d love to know what companies did with all the savings from not providing pensions like they used too. That money has to be around somewhere. When companies stopped giving pensions, that was a boom to all companies and saved them trillions. Where is that money???????

You mean like all the teacher, police and firefighter pensions?

Or like GM's pension that was killing the company?

I dont know. But Id love to know what companies did with all the savings from not providing pensions like they used too. That money has to be around somewhere.

First of all, not all companies used to offer traditional "defined benefits" pension plans. Those that did were large companies. My father, for example, had a "defined benefits" pension plan with a large steel company. That company went bankrupt in the 1980's. They could not honor it, and worked out a "lump sum" payment at the time. Where did the money go? There never was a pot of money. The promises were made when times were good, managers at that time expecting profits and business would always remain good. Just like social security - there is no "lock box" - its all been spent already. Its only filled with government IOU's.

the ONLY defined benefits plans remaining in the last 20 years are with governments.