Reply #8: I remember it well. [View All]

[Lasher]

When they first came out with 401(k)s they were called saving plans, and they existed in conjunction with defined benefit pension plans. I participated in both simultaneously. Then without ceremony my 401(k) saving plan was renamed to a 401(k) pension plan. This was the first step in setting up the attack on my defined benefit pension plan. I believe you are well aware of how this played out nationwide in the private sector.

In my case the demise of employee medical insurance started out under the guise of 'cafeteria benefits'. We were told, "This is what today's employee wants." That might have been the worst part, being insulted by their sickening corporatespeak that let us know they thought we were all fools.

It is clear that these neoliberals want the same thing to happen to everyone - in the public and private sector - who still has a decent pension and employer-provided medical insurance. That is, unless you are a senior executive. Then your compensation can't ever be lavish enough.