Letter: Days of generous pension plans long gone

To the editor:

In response to Dean McFarland’s column (“A need to multitask, the cost of a fast-paced life, July 7, A5,): my wife and I just turned 50, and we are in full-swing mode saving for retirement after spending the last 26 years raising children and helping to pay for college.

The point of my letter is to bring to light my concern regarding a lot of present-day retirees and the economic impact of their amazing pensions.

In my family and social circle, there are a lot retirees from General Motors, Ford, Chrysler, Navistar (International Harvester,) Perfect Circle and Ball. These former employees were fortunate enough to have a 100 percent paid company pension, so most didn’t save much for their retirement.

This retiree group supports a lot of local business and families with their pensions. My concern is that in the next 10 to 15 years, when many of these retirees have passed, how will the local economic gap be filled since my generation is failing to save for retirement?

Those amazing pension plans are only discussion points that are fading away, just like the Greatest Generation and Baby Boomers.

What are your thoughts, Mr. McFarland? Thank you for great columns!

Brian and Tamara Vannarsdall