On Fri, 13 May 2005 03:42:19 GMT, StellaStarr
wrote:

You seem to think a pension is some kind of welfare.
It's money you arranged to have taken out of your paycheck, to save up
for retirement.

Not the United pensions, which are "defined benefit".

You are speaking of "defined contribution" plans, which are owned by
the worker and can be taken from job to job.

Sort of like what the prezdint is proposing for Social Security, and
that puts the Good People into conniption fits because it breaks the
bond between welfare-receiving taxpayer and welfare-giving politician.

If you don't have a vested, defined-contribution plan, then you don't
have a pension plan. All you have is a promise. And we are beginning
to see what promises are worth, whether from an airline or from a
guvmint.


-- all the best, Dan Ford

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