I think some of the young guys around here haven't grasped the concept of a 401k. They don't realize that it is just a big savings account rather than a pension and that there aren't any guarantees. It is quite conceivasble that a person could work 25 years for a company and retire with just a year or two's worth of salary to live the rest of their lives on. Social Security isn't going to be around much longer.Medicare is a nightmare.

I guess pensions aren't always guranteed either. We have a guy who works part time here. He retired after 40 years at Beth Steel. The Federal government took over Beth Steel's pension plan and capped the max any retiree can get at $45k. They also cut his medical benefits and to add insult on injury they are making him pay back any $$'s they paid him over $45k per year. He doesn't even get a pension check until that money is repaid.