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«DerAlt:Wait until you try living on Social Security.
The profit motive killed pension plans not SS.
Didn't say it was a good thing.
The reasoning used to be: Long term employees and funded (or semi-funded) retirement.
Then SS was introduced to help those who didn't have adequate retirement funds. (sound vaguely familiar?)
After that, it no longer made sense for employers (yes, employers that want to make a profit) to fund a plan when everybody was paying into the government plan.
Private retirement plans all but disappeared. It got to the point that the government had to create incentives for people to create a retirement fund (IRA, 401k, etc.) when folks started to notice that the government plan doesn't really work when there are more people getting out than paying in.
By the time my grand-kids are in the workforce, they aren't going to know a time when part of the decision to take a job was "do they have good insurance"