K
krw
- Jan 1, 1970
- 0
Private companies generally offer zilch in retirement benefits. Those
days are long gone.
I don't know about "gone". The age of the "defined benefit" is
pretty much gone in private industry but several still have "defined
contribution" plans. Now, 401Ks make up for a lot of what's been
lost and are portable.
A 70 year old programmer can be better than a 40 year old. At least
that's my impression when I see all the "modern" bloatware ;-)
Maybe. There are better things to do at 70, though. ;-)
Or you just have to have the right connections to make that happen ...
Anyhow, why should retirement checks be based on the last year of
service? IMHO that's wrong. For everyone else it sure doesn't work that way.
The last years' is indicative of the final salary. Most "defined
benefit" plans do take the last year, or last couple of years into
account. What most private pensions *don't* do, that public plans
do is include overtime in the formula. It's not hard to double
one's income for a couple of years. There is no way the tax payer
should pay that forever.