Obama Has LARGER Pension Than Romney AND Cayman Island and Chinese Accounts

[jt800]

Originally Posted by residinghere2007

What makes you think that everything in Romney's 401k is his own anyway. Many companies provide "matches" to 401k program's, my own company matches as well.

Obama has never held a job where there were any matching funds.

And corporate matching funds are often a perk or part of your salary.

The DIFFERENCE is that ALL of Romney's retirement came from PRIVATE and NOT PUBLIC sources.

Obama's has all come from PUBLIC sources.

I don't care personally where Obama's came from, how large it is, or where it's invested.

I'm not the HYPOCRITE attacking anyone....Obama is.

[dnvrsoul]

Originally Posted by GMUAlum08

wrong. a 401k is still categorized as a pension, just a different kind called a defined contribution plan.

defined benefit plans are going the way of the dinosaur except in a select few industries

Pension is generally thought of as a defined benefit plan. This plan is entirely funded by the employer. How much is funded on an annual basis is dependent upon actuarial calculations. The employee receives a set amount per month upon retirement. If the trust has enough money to pay that set amount per month then the employer is not required to make a contribution for that year. If the trust looks to be short then an additional contribution may be required. Since the employer is the only one allowed to make a contribution and the payment amount is defined...the entire risk lies on the employer.


I used to assist actuarials in calculations of pension plans.

People would kill for a Pension plan...

Employers may match 401K's but it's peanuts compared to a pension plan, also a lot of employers changed their 401k to have "discretionary matching" which means...no match.

[Cardiff Kook]

Originally Posted by dnvrsoul

Pension is generally thought of as a defined benefit plan. This plan is entirely funded by the employer. How much is funded on an annual basis is dependent upon actuarial calculations. The employee receives a set amount per month upon retirement. If the trust has enough money to pay that set amount per month then the employer is not required to make a contribution for that year. If the trust looks to be short then an additional contribution may be required. Since the employer is the only one allowed to make a contribution and the payment amount is defined...the entire risk lies on the employer.


I used to assist actuarials in calculations of pension plans.

People would kill for a Pension plan...

Employers may match 401K's but it's peanuts compared to a pension plan, also a lot of employers changed their 401k to have "discretionary matching" which means...no match.

yes pension plans are traditionally thought of as defined benefit plans but that doesn't change the fact that a defined contribution plans are still technically classified as a pension plans as well.

[Dale Cooper]

Originally Posted by dnvrsoul

Pension is generally thought of as a defined benefit plan. This plan is entirely funded by the employer. How much is funded on an annual basis is dependent upon actuarial calculations. The employee receives a set amount per month upon retirement. If the trust has enough money to pay that set amount per month then the employer is not required to make a contribution for that year. If the trust looks to be short then an additional contribution may be required. Since the employer is the only one allowed to make a contribution and the payment amount is defined...the entire risk lies on the employer.


I used to assist actuarials in calculations of pension plans.

People would kill for a Pension plan...

Employers may match 401K's but it's peanuts compared to a pension plan, also a lot of employers changed their 401k to have "discretionary matching" which means...no match.

I have a pension. I didn't kill anyone for it. It's money belonging entirely to the company I worked for. No public funds, no government funds, no matching funds. Just private money given to me in monthly payments based on years of service.

THAT is the definition of 'pension'.