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The Alemian File: Episode 25-Retirement In America, the Past

By David Alemian

Years ago, “Greatest Generation” employees would spend their entire careers with the same company, because at retirement they would get a lifetime pension.

There are pros and cons to almost everything, so here they are. Pros for the employees: Employees with a properly managed pension plan enjoyed financial security throughout their retirement years. During their working years, they had a very good idea of how much money they would have for retirement and could plan ahead.

Cons for employees: Pension plan vesting periods tied employees to a company. If they moved to another company, the vesting period started all over again, or worse, the new company had no pension benefits.

Pros for the company: Employee turnover and turnover costs were very low. The employees with longer job experience naturally produced higher quality products and services.

Cons for the company: The pensions were expensive and funding the plans was a constant challenge. In some cases, the pensions were poorly managed and were not financially solvent.

In 1978, the Baby Boomers changed everything with the 401k. What happened next? As I said before there are pros and cons to almost everything, and I’ll cover that next week right here on the Alemian file.

If you have questions or comments send an email to David@theAlemianfile.com, or visit my website at www.CapitalCrestFinancialGroup.com.

Absolutely make sure you come back here next week for another edition of the Alemian file.


About David Alemian

Successfully creating affordable retirement plans guaranteed to last a lifetime is a unique, specialty skill. It’s a challenging arena but respected writer David Alemian makes it look easy. Alemian is a leading retirement expert and nationally recognized authority whose expertise is shared via video columns, numerous journals, and talk-shows.

His national recognition results from both revolutionizing and revitalizing how organizations and individuals like you and me plan and save for retirement. Alemian is considered “The Go-To Guy” for creating and implementing absolutely irresistible, lifetime retirement pension programs.

Formerly the host of “It’s About Money” Radio Show, Alemian has also produced and is featured in over 200 financial education videos. Additional content can be found in many well-respected, publications including: MD Magazine, Physician’s Money Digest, Physicians Practice, Journal of Clinical Oncology, Consultant Live, Psychiatric Times, Cancer Network, OB/GYN.net, and The Healthcare Executives Network.


This article reflects the thoughts and opinions of the author and is being provided for educational and informational purposes only. It should not be considered financial or tax advice. Please consult your financial or tax advisor about your situation.

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