In Response to Re: NFLPA Vs NFL.. where do you stand?:
When the CBA is being renegotiated football and finance are the same subject.
The crisis may well come earlier. According to the Center for Retirement Research at Boston College, though, the typical 55 to 64 year old has just $78,000 in their 401(k) plan. That's pretty inadequate.
Well, actually people used to rely mostly on their private-sector employer for retirement benefits. In the absence of decent private-sector benefits it's a good thing we have Social Security. We should do what we can to shore it up and preserve it.
One reason I think the crisis is still a little down the road.
The main problem is that +70% of U.S. pensions are under-funded. If they are 80% under-funded the regulations disallow 50% of the employees lump sum option. 60% disallows the entire amount.
Yes, unfortunately the regulators allowed companies to use far too aggressive pension-funding assumptions, so companies stopped putting in enough to buffer against market declines like we had in 2007.
Sure . . .