This is a great article by Albert B. Crenshaw for the Washington Post: “Benefits Bust: No Job-Paid Health, No Pension and More Time to Miss Them.” Everyone should read it. Here is an excerpt:
The result is a large and growing number of retirees and near-retirees who realize that major retirement benefits they had counted on will not be there. For health insurance, instead of a company-sponsored program similar to the one they enjoyed while working, they are being left to a combination of the government’s Medicare program — itself struggling with funding problems — and whatever private insurance they themselves can buy. Pension changes will leave them to live on a combination of their own savings and Social Security.
Yikes! to that very true last statement. As we all know, Americans aren’t saving and Social Security has serious problems.