Why Young Workers Want a Good Old-Fashioned Pension

By contrast, a defined-contribution plan is usually something like a 401(k), in which the worker contributes a portion of his income and the employer may offer a matching contribution. A pension is funded by the company, while a 401(k), as many workers have learned to their horror in recent years, rises and falls with the stock market.

In the last decade there has been a major shift away from defined-benefit plans toward defined contribution plans at major U.S. companies.

Glickstein says that of the Fortune 1,000 companies his firm tracks, 586 have some form of defined-benefit plan. Of those, 208 have frozen parts or all of the benefits, meaning either that no new benefits are accruing or that new employees can't qualify for the benefits.

Could an Economic Rebound Revive Pension Plans?

Glickstein says the problem for many workers is that the defined contribution plans are a poor substitute for a pension. According to the Center for Economic and Policy Research in Washington, the average balance in 401(k) retirement plans is only $60,000, far less than is necessary to survive a lengthy retirement.

"We see statistics all the time that suggest that relying on a 401(k) plan as a primary source of retirement income is not going to do it," Glickstein says. "There is a tremendous amount of effort under way on the part of plan sponsors who have moved in that direction to treat the 401(k) plan more like a primary retirement vehicle."

Public sector employees tend to have more access to traditional pensions than private sector workers, but that too is changing. Recent changes in states like Wisconsin have been designed to reduce public sector pension benefits.

Glickstein believes that if the job market improves with the economic rebound, some companies may be forced to resume offering traditional pension plans again, or their employees will flee to firms that do. "The fact that younger employees are now saying they value security and it would matter to them if they had a pension plan, could start influencing employer behavior about what they offer,'" he says.

"If you have a whole bunch of workers who were ready to retire two years ago, but can't afford to because their 401(k)s took a dive, you've got some really big issues in managing your company," he says. "Your ability to manage your workforce and cost effectively move them out of the organization when they are ready to is a really big issue."

Here are the top 10 U.S. industries that offer defined-benefit pensions:

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Source: http://www.dailyfinance.com/2011/04/25/why-young-workers-want-a-good-old-fashioned-pension/

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How to Know If Filing for Bankruptcy Is the Right Choice?

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It is all too common for individuals and families to discover that their income no longer affords them the ability to pay all of their bills. Whether due to a job layoff, divorce, illness or other unfortunate circumstance, or just because expenses are rising faster than the income, there is insufficient money to pay the monthly expenses. This situation is only made worse when having to make payments on high credit cards balances.

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Source: http://ezinearticles.com/6204923

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Evolution Of A Startup Idea

Picture of Nintendo's Mario as he's evolved since he first appeared in the late 1980's. One thing I've noticed talking to people about Commonred over the past 6 months is how the messaging has shifted. As customers use the product, as we meet with domain experts, as you think and think and think more about the product, the vision and what you're trying to accomplish becomes easier to describe. I saw an interesting example of this recently.

@Arrington Retweeted a link to a guy who is trying to get some attention for his startup called QuickVanz. I must say I absolutely respect this guy's hustle and his attempts to get the ear of tech's elite as he messages basically everyone of influence trying to find people that might be interested in the idea he's working on. Along the way you see his idea evolve.

This is how it must be or he's not doing it right.Even the name has evolved.The idea at times looks to have completely shifted, and then comes back. It's a quick read. They're listed in chronological order until you get to Arrington's tweet at the bottom. Watch the dates as you scroll.

For the latest tech news, visit SAI: Silicon Alley Insider. Follow us on Twitter and Facebook.

Join the conversation about this story »

Source: http://feedproxy.google.com/~r/businessinsider/~3/xsyuAgIo044/evolution-of-a-startup-idea-2011-4

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The Pros And Cons Of Discovering Attorney Services On The Internet

Obtaining the most effective attorney services is occasionally a dilemma to us. Where will we look for the best attorney services? Will we be able to get the most beneficial one around? Can we afford to hire the most beneficial? These are just couple of of the questions that haunt us every time getting attorney [...]

Source: http://www.legaldebthelponline.com/2011/04/24/the-pros-and-cons-of-discovering-attorney-services-on-the-internet/

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Consolidating Money Owed? Not Always The Clear-cut Conclusion

A lot of folks try to find unsecured debt settlement methods because of the fact people think that it may be the sole means which could honestly help on the subject of limiting the expenses by way of slashing the interest levels. But nevertheless, that isn’t true and, before you begin searching for an organization [...]

Source: http://www.legaldebthelponline.com/2011/04/24/consolidating-money-owed-not-always-the-clear-cut-conclusion/

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Suntech Brightens Up To $11 With Polysilicon Price Slide

A shortage of polysilicon three years ago resulted in new entrants in the market as well as an increase in production capacity from existing manufacturers. This quickly changed the market situation from a shortage to an over-supply of polysilicon. Our price estimate for Suntech Power stands at $10.68, roughly 15% ahead of market price.

Source: http://blogs.forbes.com/greatspeculations/2011/04/21/suntech-brightens-up-to-11-with-polysilicon-price-slide/

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Salesforce Eats Market Share But Stock Is Too Expensive

Salesforce.com, which specializes in delivering CRM software on-demand, is expected to benefit more than its competitors as demand for cloud-based CRM software remains high. The majority of Salesforce's market share growth will likely come at the expense of SAP, whose share declined from 26% in 2006 to 22% in 2009. We currently have a price estimate of $116 for CRM stock, roughly 15% below market price.

Source: http://blogs.forbes.com/greatspeculations/2011/04/22/salesforce-eats-market-share-but-stock-is-too-expensive/

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How To Find A Credit Counselor?

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Credit counseling is gaining popularity, and there has been a rise of credit counseling companies out there. Just do a quick search online and you will find a plethora of credit counseling agencies out there and trying to sift through the chaff may take an effort.

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Source: http://ezinearticles.com/6202769

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What Are The Advantages Of Credit Counseling?

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There is currently $2.4 trillion in consumer credit debt out there in the US; that's larger than Brazil's national GDP. So with more credit card debt out there than a developing countries total economy it's no wonder that credit counseling is so popular. Sometimes that credit card debt can get out of control. That's what credit counselors are there for, a lot of times credit counseling companies are non-profit and are there to help out the American consumer.

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Source: http://ezinearticles.com/6195459

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Can A Married Person File Bankruptcy Individually?

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Can a married person file individually? If so, what is the negative effect on the spouse? What if they're both on the debt? What if they're both on the title to a house and on the mortgage?

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Source: http://ezinearticles.com/6204345

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