33% of American Companies

[djv]

33% of our companies offer no retirement plans.
Most of these are your 10 buck a hour or less out fits. They believe there folks can start a saving plan with there own earned money. There kidding right?

 

[dawgball]

I just don't get it with you, djv. I know I bust your balls constantly, but it is amazing how we really don't see eye to eye on most issues. You make great points sometimes, but for the most part it's crazy how different our views are.

Have you ever considered what portion of American companies are simply struggling to survive? Or what portion are so small that there really is no need to offer retirement because there are only owners and family members that work there? How many one-off restaurants are out there that have such high turnover rate (due to the nature of the business and the people that USUALLY work in them) that have nothing set up?

I'm not saying that your percentage above isn't accurate. Actually, I think that sounds about right or maybe even a little low. I just don't think it means anything without an explanation.

 

[dawgball]

Be honest. Does it make you cringe when you see a post in one of your threads by me?

 

[Mjolnir]

i'm sure they could care less about there retirement plan. it sucks, but if you only earn $10 an hour, you should look into getting a different career.

 

[DOGS THAT BARK]

"33% of our companies offer no retirement plans."

Now what exactly does this statement say? 1st where the #'s coming from and who made report--2nd since bulk (%) of business in this country are small business-- I am surpriised the # is not higher.

You would be quite surprised on companies that have matching contributions for what their employees put in where "many" of the employees will not put in anything--their excuse -I can't afford it!

yep they can't afford it because of debt--they don't mind paying 20% interest on Credit card--but thought of borowing money to put in fund and have company match it--is out of the question.
--go figure

 

[s_dooley24]

Companies are encouraged, but not obligated to create retirement plans for employees

 

[djv]

I guess what it shows. Since we don't seem to have enough high paying jobs it would be hard for folks to save. So it may show we better have a safety net for when there to old to work. Say 68 or 70? I guess I thought that number was low 33%. In the past many folks went union just to get these benefits. And most important I guess it does show many companies are struggling as dogball said. Just maybe the great picture we are be given. Or should I say told about by our government is not that great.

 

[dawgball]

Well, I don't want to say you spun that because I did say struggling without explaining. What I was referring to as a "struggling" company are new companies. You know historically (not just since the guy you love bashing came in office) about 90% of businesses fail in the first 5 years.

Like Richard Branson (CEO of Vrigin) said. When companies are starting out, they have to fight like hell just to survive. When companies actually are where they feel they are past the survival stage, they need to start giving back to the world.

Now you probably look at Richard Branson (or Bill Gates) as an asshole because he is successful. I look at these people as the individuals that make this world increasingly better. Can you even fathom how much money the Bill & Melinda Gates Foundation donates every year? Nobody makes them do that. It is THEIR money, but they CHOOSE to give. No government is forcing this on them, and you rarely see coverage of their generosity (compared to the amount they give).

I'm not sure why you are so dead-set that our economy is in shambles.

 

[toastonastick]

maybe if we privatize social security this wouldnt be such an issue.

 

[SixFive]

add my company to the list. They match a miniscule portion of 401K contributions, but that's it.

 

[djv]

SixFive Is your company one of these that is fighting for it's life or well to do.
dawgball with so many out of work and our cost of living going up so fast do to heath care and energy. I guess things are not all the best. And you may be right in first place about the struggle for good paying jobs that are needed. We need more then more big mac's and wall marts. I know what you said you didn't mean it that way. But you might be right anyway.