Comment by tezzer

Pensions pay (paid?) regardless of how the stock market is doing, and they pay for life. They grow with inflation, and you don't need to know anything about stocks, markets, funds, rebalancing or anything else to benefit. It was an elegant weapon for a more civilized age. If it wasn't mismanaged and raided. Incidentally, today only 1/3 of working Americans have 401ks.