Angst in America, Part 4:Disappearing Pensions

JohnMauldin2 2In this article, John Mauldin writes that there was once a time when many American workers had a simple formula for retirement: You stayed with a large business for many years and then gratefully accepted a gold watch and a monthly check for the rest of your life. These pensions, he writes, are all but gone from US private-sector employers, but they are still common in government, particularly state and local governments; and they are increasingly problematic. They are another source of angst for retirees, government workers who want to retire someday, and the taxpayers and bond investors who finance those pensions. Read more