National Geographic Society sets biggest layoff in its history

Re:National Geographic Society sets biggest layoff in its hi... by smacktoward on Wednesday November 04, 2015 @12:13PM (#10507982)

> The pension is largely a "black box." Money goes in, and I have zero control over how it is invested or what their fees are.

The vast majority of people are absolutely terrible at picking investments, so this is a feature, not a bug.

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Re:National Geographic Society sets biggest layoff in its hi... by Someone1234 on Wednesday November 04, 2015 @12:36PM (#10508149)

401Ks allow you to move the money between different managed funds. The main difference is choice: With a pension someone else decides which funds, with a 401K you decide which funds.

You don't need to be a financial expert to pick a managed fund. Just look at the fees and history and decide. A pension is like being locked into one managed fund the entire time no matter how poorly it performs or how high the fees go.

Plus some pensions don't diversify enough. I'm sure Enron's former employees will tell you all about it.

[ Parent | on HN ]