It Would Be a Great Help If You Could All Die Younger
The latest estimates of American life expectancy are out, and we're doing great! Living longer than ever. But—ooo—I hate to ask you this, but maybe, could you not do that, and instead die younger? We have these pension issues, see...
The Wall Street Journal notes that even as new retirees celebrate the prospect of being able to sit their decrepit asses on the sofa eating sodium-free peas until the average age of 89 (women) or 87 (men), there is a drawback: those extra years on earth will be an added cost burden to their pensions. Which are probably already broke as hell!
The new estimates released Monday—based on data from corporate pension plans—could eventually increase retirement liabilities by roughly 7% for most corporate plans, according to Aon Hewitt....
Corporations have roughly $3 trillion in current retirement liabilities.
We must allow corporate pension funds to euthanize the elderly as it become fiscally prudent to do so. Responsible financial planning starts now.
