Pensions

The Disappearance of Traditional Pensions Explained

For generations, traditional pensions were seen as a promise—a steadfast commitment to workers who dedicated their lives to their jobs. But in today’s workforce, that promise feels more like a fading memory, replaced by the uncertainties of 401(k)s and personal savings plans. Growing up in a multicultural family where financial security was often a topic of quiet concern, I’ve come to see the disappearance of these pensions as more than an economic shift; it’s a story of changing values and priorities in modern America.