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401(k)s Disappoint Baby Boomers

This is a good article from the Wall Street Journal, with lots of useful points, on the failure of 401(k)s to meet the expectations of retiring (or, would-be-retiring) baby boomers.
 
It summarizes the findings of a study by the Center for Retirement Research at Boston College. The Center’s web site doesn’t have the actual study up yet, but there is material of mixed usefulness here. There is a study on the site, and issued this month, that concludes that pension funding “does not currently have a statistically significant effect on bond ratings” for states.

Comments (1) -

  • Craig Russell (Crowley)

    2/25/2011 6:26:49 PM |

      Recent debates have come up about this problem. Look it up yourselves. In california many cities have run out of pensions and are using IOU's to fund them. Union bosses there have promised cushy pensions for firefighters. Let's leave fantasyland and go back to reality.
       For one firefighter in the state of california to retire. It takes "18 FIREFIGHTERS WORKING FULL TIME" to fund that firefighters pension. (let that sink in).It takes 324 firefighters to support those 18! and so on. Is this getting through to anyone?! This is insanity. You have been lied to. For a pension that only works for ONE GENERATION!

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