By Detroit, I mean the American automakers (Ford, GM, Chrysler), not the city, nor the Lions and Tigers. Not that the Lions and Tigers don’t need fixing, thats just not what this post is about. The Detroit automakers are basically getting crushed because they have ridiculous health care and pension costs that are significantly higher than anyone ever thought they would or could be. This proposal won’t fix the health care issues, but it could be a model for addressing the current pension and pending social security problems. It also might help finally resolve the defined benefit vs. defined contribution debate.
Sphere: Related ContentTags: annuities, defined benefit, defined contribution, market, pensions, social security
