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You know one thing that I've always wondered on this board? Just how long can a topic title be? That one in the music
#43
Quote:Originally posted by The Man
why should any company be responsible for your retirement.

They pay you to work there. Why is it assumed that every company owes their employees above and beyond that? pension, Xmas bonus, days off when the weather is bad, other bullshit.

You work. They pay. You want to make sure you have money when you are old: save some. Why should your company have to take care of you. Why should strangers take care of you (social security).

Companies have traditionally also provided retirement benefits. If a company removes a retirement they should then offer a 9% increase in base pay (basically an equivant increase to pay to offset the loss of compensation). A company that offers a retirement plan tells it's employees that it wants them to work their for a long time. Plus it is a way to increase compensation to an employee without paying SS tax. A company does not need to provide a retirement plan, but it is more effective if the company does.

And Suzie, if you invest in a money market/fixed income, your pay raises will increase faster than the return. You would be forced to save 600%-820% of your pay. 20%-30% of your pay for 30 years (based on a rough life annuity value of 10-12 at age 65).
<img src="http://www.blazingconcepts.com/img/syd/sloatsig.jpg">

________________________________________________________________________________________
<center>Boy the way Glen Miller played,
songs that made the hit parade,
guys like us we had it made,
those were the days,
and you know where you were then,
girls were girls and men were men,
mister we could use a man like Herbert Hoover again,
didn't need no welfare states
everybody pulled his weight,
gee our old Lasalle ran great,
those were the days!</center>
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You know one thing that I\'ve always wondered on this board? Just how long can a topic title be? That one in the music - by Sloats - 12-23-2003, 06:48 PM

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