CA just announced it is dropping it's 401K contributions. Big company so I would assume that the rest will follow suit. My question,( and I'm sure there won't be an answer,) is what kind of horrendous tax package will they need to pass in twenty years to support all the gen x's who had no time to save for retirement and get nothing from their jobs? I know i sound like a crank but people really need to come down to reality and look at the situation here. The percentage of guys with jobs and companies they run profitably in their spare time is pretty small; most have families and responsibilities; so the guys who built up a good saving's; they will need to tap into you guys to pay for the underfunded retirements. No other way. And working until you are seventy? where? In the places that are now filling up with the immigrants who are supposedly doing the jobs "americans won't do?" Sun is just a diversion; they want to rid this country of high salaries and we are letting them. I got mine so I don't worry, but I would if I was many others.
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