Millions of Americans–union workers, school teachers, firefighters, office employees at major corporations–are counting on a pension to support them when they retire. Pensions have always been seen as secure and reliable. But in recent years, some of the nation’s biggest pensions have run into trouble. Underfunded or underperforming, they don’t have enough to pay out. Increasingly, that means taxpayers are being asked to step in so retirees aren’t left with nothing. Which means the shaky pension pension system is very well costing you money–even if you don’t have one yourself.
Bloomberg reporters Neil Weinberg, Suzanne Woolley and Akayla Gardner join this episode to explain why the nation’s $4 trillion pension system is having such a rough time–and how much it will cost the rest of us to pick up the slack.
Read more about this story HERE.
Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK
Have questions or comments for Wes and the team? Reach us at email@example.com.