Let's Stop Pretending that Pensions Don't Matter

Thomas J. Mackell, Jr.

Posted May 29, 2008| 04:47 PM (EST)

Over the last 30 years or so, it has gradually become an article of faith that pensions are bound to go the way of the dinosaur. Waves upon waves of mergers and layoffs across corporate America have convinced us that employers no longer have an obligation to the long-term welfare of their employees. And we have been told time and again that 401(k)s are the best answer to individual retirement.

Americans will soon be rethinking these notions.