Sorry Paladin,

The asshole that wrote the article shows he/she has no understanding of retirement plans.

A Pension Plan is either a Defined Benefit or Defined Contribution. These are contractual obligations to provide either a formula-derived funding amount or final benefit amount to the retiree.

America has been transformed into a here-today, gone-tomorrow business environment due to the lawyers and smart-guy MBA pukes that loot every functioning entity they get their hands on.

Only a Pension Plan is a bonafide Retirement Plan. Evidently, the only ones remaining will be Government Entity funded; because they can steal from US via taxation powers.


Anyone who thinks a 401(k) is a Retirement Plan is off their rocker. A 401 is an adjunct to a Profit Sharing Plan, which gives employers the right to decide annually (maybe quarterly) if they will "fund" or not.

Taxes have never been lower.

Anyone who thinks there really is "free money" out there, (employer matching funds) is rather naive.

Many plans do not allow participant loans, or self-direction of investments. Those that do likely offer only a few options for self-direction and maybe 30% of vested or employee contribution funds to be loaned out.

There are many "Gotcha!" clauses that make it almost impossible to get fast access to "your" money. Even Termination is not a guarantee of prompt access to your net funds.


I did not read the post beyond the gigantic error the author made in the first couple of sentences.

Anybody who has vested money in a Profit Sharing, 401k, VEBA, Private Pension, or other Retirement Scheme sponsored by employer, union, or Employee Leasing corporation ought to take steps NOW to get as much of their money as they can, IF they want to preserve it.


Don't blame your employer for this mess.

Blame the legislators, Business School professors, and Lawyers that have made corporate looting and theft the way of life in America.