<p>J"yes, traditional pensions have nearly disappeared. They are available mostly to union and government employees like police, fire, teachers… which is why the cost of a state employee (cited by your professor at $39/hour) is so high."</p>
<p>Exactly. Here in NYC, those pensions haven’t disappeared. Hubby is 20-and-out with 2/3 state and city tax free pension, lifetime medical/dental/prescription and a large annuity. THis is mostly the case for city workers and it’s a huge drain on those of us in the private sector.</p>