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Thread: Social Security to start cashing Uncle Sam's IOUs

  1. #61
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    Re: Social Security to start cashing Uncle Sam's IOUs

    Quote Originally Posted by Goldenboy219 View Post
    Not always so. There are efficiency wages (overtime is a good example). Paying above the market wage can have long run benefits in both productivity and decreased turnover risk.
    But you have to look at how many employers actually pay an eficiancy wage. We still have employers not even willing to pay employees a living wage.

    How can you expect everyone to start saving for retirement when employers are not required to even pay a living wage?

    Furthermore, employers that do offer retirement plans have been moving towards market models themselves. Employers have been increasingly utilizing 401k's rather than using defined benefit pension plans. They want a mobile workforce and they want their employees to make there own decisions. If you look at recent trends in employment you will see why employers have chosen this model. Work has become more temporary, and the unemployed have spent a longer amount of time between jobs.

    In doing so, we are increasingly linking retirement benefits to employment. Not only that, by requiring people to invest their own money you are increasing the risk these people must take on. It undermines the idea behind a social insurance. I am not against the whole idea of taking charge of your own retirement, or working to save your own money. That is a great and rewarding experience. However, we must be aware that in doing so we are creating a lot of second class citizens, who will not have the liberty to retire in a favorable position.

  2. #62
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    Re: Social Security to start cashing Uncle Sam's IOUs

    Quote Originally Posted by Goldenboy219 View Post
    Not always so. There are efficiency wages (overtime is a good example). Paying above the market wage can have long run benefits in both productivity and decreased turnover risk.
    That would be part of the "have to"

    Retention bonus's, productivity bonus's are reflective of companies paying what they have to to get the employee to stay and of course be productive.
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