Back in the old days there were a lot of them, but now days theres mostly 401k.
2007-01-01 10:49:15 · 2 answers · asked by Smile Everyday 1 in Business & Finance ➔ Careers & Employment
Most of the companies got burned by pensions. They began offering these along with health benefits having no idea that the average life expectancy would continue increasing so much along with the cost of healthcare. This has caused most companies to abandon defined pension plans and instead go to cash balance plans or 401k type plans.
Illustrating how bad it is now, the big three (GM, Ford, and Chrysler) will pay more in retiree health care expense than the total revenues of all but 139 US public companies.
2007-01-01 13:17:35 · answer #1 · answered by toledogolf 4 · 0⤊ 0⤋
Into the pockets and bank accounts of the greedy criminals who never got caught. The work on which they were based went to China, Mexico, Ireland, and other places.
We now live in a "What have you done for me in the last two hours" world. I'm getting a PhD in serivng fries with an attitude "that makes 'em wanna come back.".
2007-01-01 11:01:08 · answer #2 · answered by Happy Camper 5 · 0⤊ 0⤋