People don't place their trust in government or company pension plans; they have to be self-reliant.
Sentiment: NEGATIVE
Most private-sector folks don't get a pension.
Well, today people have to be self-reliant if they want a secure retirement income.
Things that have happened with Enron and companies like that, where they've squandered their employees' pension funds, I think it has brought a new level of anxiety. People don't feel like they can trust their employer.
Trusting people to pursue their own futures invariably provides better outcomes. Money goes where it is needed, rather than being absorbed by administration costs.
Under Reagan came the idea of putting your pension plan in the stock market, which wasn't a guaranteed pension.
In some cases, managers and employees have secured pensions beyond their original base salary. It is wrong, the people doing it know it's wrong, and we have to put an end to it.
We can't be paying pensions to the next generation of federal workers when hardly anyone in the private sector gets them.
Government pensions, built into law and mostly protected from stock market vagaries, are the envy of the private sector.
People don't trust private health insurance companies for all the right reasons.
A corporation's responsibility is to the shareholders, not its retirees and employees. Companies are doing everything they can to get rid of pension plans and they will succeed.
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