Retirement Benefits Are to White Collar Crime What Handguns Are to Street Crime

BMW will soon freeze pensions for its US workers, including those at the assembly plant in Spartanburg, and shift them over to so-called “defined contribution” plans, a company spokeswoman confirmed…

BMW had already ceased offering pensions to new hires in 2012. The chart compares the employer cost over the course of an employee’s career between a defined benefit pension plan (pension) and a defined contribution pension plan of reasonably equivalent value. If there were any sort of economic justice, companies would have to contribute at least 6 percent of worker pay, and perhaps 8 percent, regardless of any employee contribution, in order to be allowed to claim they had a retirement plan when recruiting workers.

Source: larrylittlefield.wordpress.com