One of the biggest awakenings I ever received was at ATT when I chatted with an actuary.
He disabused me of the notion that the ATT pension was a great benefit.
He pointed out that if they didn’t give me a pension and other benefits then they would have had to pay me more. At the time of the conversation, ATT put aside in the pension plan $8.43 per month per employee!
They’d have had to pay a lot more in salary that that pittance. So, they weren’t doing me any BIG favor.
And, you wouldn’t want to guess how many people they fooled with the propaganda that the pension was an important benefit.