Quote:
Originally Posted by Slava
I definitely agree with that. I have clients who worked for Nortel and really that situation is a disgrace. I just think that the overall benefits of these plans are also far reaching and when they work they provide excellent stability for individuals.
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For sure. I have one relative that has a DB plan from an insurance company, and loves the security. There's no need to throw the baby out with the bathwater.
I actually think the best scenario would be a 3rd part DB plan. If insurance/trust companies could market 3rd party DB plans. If I could put in 10k a year with a guaranteed, inflation adjusted monthly payout at a certain age I definitely would consider it. (Assuming the implied return was reasonable) You could keep your DB if you changed jobs, and the company going under wouldn't screw it up.
I would fear that in gov't hands though, since it then becomes political.