C.T. Marhula, Grand Forks, column: American workers need traditional pensions
November 26, 2011 at 6:02 pm in Grand Forks Herald
Any decision maker who tries to convince workers that defined-contribution plans are better for them than fully portable defined-benefit plans is either ignorant, a liar or both. Continue Reading
CT,
Your logic is one-sided. Yes, defined benefit plans are always more popular and safer for the employee. As an employee advocate, it is obvious why you have this opinion.
I, however, don’t believe public employees should have no risk associated to their retirement plans. The defined benefit plans for which you advocate place all the risk on the tax paying public. Why should I cover the risk for all who work for the city?
A balanced plan of risk and reward can be achieved through a defined contribution plan, removing the risk from the tax paying and placing it where it belongs, on the future retiree. It’s about time people begin taking responsibility for themselves.
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Agreed. The tagline is interesting. First, it isn’t up to “convincing workers” what is best. The employer is still the employer and what about what is in their best interests. Second, to refer to anyone who disagrees as “ignore or a liar” shows how quickly CT jumps to name calling after making no compelling argument. I’d expert more from a “senior professoinal”.
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C.T. Marhula must believe in a “free lunch.”
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