this post was submitted on 09 Dec 2024
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Well those hedge fund managers still worked when it was DB pensions. But it just seemed to not be as crazy as it is now.
A DB plan at least locked in your retirement payout, allowing much more security of income than being left to the wolves in the stock market.
I’ve seen multiple workers who need to retire, it was past their planned date to retire despite saving for their entire lives, because ‘the market’ wiped out a chunk of their retirement package.
Yes DB is better for the person. I'm saying on the market and fund manager side it didn't really matter. I don't think DC contributed more to risk taking or the crazy maximizing, that just seemed to happen from greed and other factors.