DEFINED BENEFIT PENSIONS CAN DO MORE WITH LESS
DB pensions can provide the same benefit as a defined contribution plan at about half the cost.
SWITCHING FROM DB PENSIONS TO DC PLANS INCREASES TAXPAYER COSTS, AND DOES NOT REDUCE OR ELIMINATE ANY UNFUNDED PENSION LIABILITIES.
More Americans are leaving the workforce without pensions, with inadequate 401(k) balances and relying more on Social Security. Americans also face increasing costs for food, utilities, prescription drugs and healthcare costs. For many, then numbers just don’t add up.