200.5K

My employer wants to freeze our traditional defined benefit plan (A Plan in which they make 100% contributions and a payout at retirement based on years of service and salary) to only a defined contribution plan (B Plan or 401K plan with a high percentage employee contribution plus a low employer contribution whose investment choices are then controlled by the employee). Currently we enjoy both.

If they watched this show they'd realize why it is stupid to get rid of the defined benefit plan.

The employee may feel empowered to have control of their defined contribution plan, but most (if any) are not professional financial planners. My B plan lost almost 44% of its value in 2008, and many of my co-workers faced with mandatory retirement must continue to work (elsewhere) to make ends meet.

The balance is in a solid A Plan and a good B Plan, they compliment each other.