A post from another site

[awthacker]

Originally Posted by jeffmo

Absolutely not.I'd never try t tell someone what they should do with their money.
My point in saying that the 401ks took a beating was to prove that pension systems took a hit just as the 401ks did.For some reason,some folks actually beleived that they(pensions) had remained untouched.Everyone got took in my opinion.

Nobody got took, though. People's investments went south. Blame whoever you want... the brokers, the banks, how about the folks who handed y'alls money over to them, how about you guys for putting those guys in charge of your pension. The problem is that nobody saw it coming. Now that the pension money is cut in half... where's the money for all the long-term benefits packages gonna come from? My understanding is that I should pay more tax to make up for it, even though nobody's gonna step up and replenish my 401K. Now I'm making high-risk investments to get my retirement plan back on track. I'm just as bummed as you are, but I take responsibility for not paying attention when the market crashed.