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Danger ahead: Our disappearing pensions
Working Americans ask themselves this question — and angst about the answer — a great deal these days. And why not? For most Americans, retirement reality has turned chillingly stark: Either you have a robust set of investments in your 401(k) or you’re facing some really rocky happy years. A generation ago, working Americans didn’t have to obsess about retirement savings accounts. Americans had pensions back then, not 401(k)s. These pensions represented a commitment from employers to workers: You work here a set number of years, you can count on a monthly pension at a set amount. Read more.