401k vs pensions
Economics
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One thing i keep coming back to is that we need to take this country back from Wall Street. Companies should not be putting people’s retirement in 401ks. They should have pension funds and banks should have to offer high interest savings accounts.
This seems like a big step (back) in the right direction to me.
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The only upside to 401k and their equivalents in other countries is that they are employee owned. The company can't declare bankruptcy and leave you with nothing.
Bringing back the company pension won't do any good without legislation requiring that it be kept fully funded and held at arm's length from the company so they can't "borrow" from it or make it disappear during bankruptcy.