1 post tagged “pensions”
I was talking to a friend of mine who still works at the hospital I used to work for. I guess there have been all kinds of cutbacks, including discontinuing the matching contribution for the 403(b) plans (like 401(k) but for non-profit organizations). She said she figures next they'll be asking the employees to pay the full premiums for their health insurance or their term life insurance. She's technically old enough to retire, but my friend can't retire because she can't afford to. :(
That's happening to a lot of older people now. They can't afford to retire because their 401(k), 403(b), or pension plans have been eradicated by their employers and Social Security just won't be enough. It makes me going to RedBox and renting movies with a promo code to get free rentals look like I'm just being petty in comparison. But really, I think the ones who are being petty are the businesses that are cutting off their retirement plans and causing people to literally have to work until they die. I understand the economy is in a recession, but come on people...picking on the elderly?
