Summary
President Joe Biden’s economic achievements—lowering inflation, reducing gas prices, creating jobs, and boosting manufacturing—are largely unrecognized by the public, despite his successes.
His tenure saw landmark legislation like the Inflation Reduction Act, CHIPS Act, and major infrastructure investments.
However, Biden’s approval ratings remain low, attributed to inflation backlash, weak communication, and a media landscape prone to misinformation.
Democrats face a “propaganda problem” rather than a policy failure, with many voters likely to credit incoming President Trump for Biden’s accomplishments due to partisan messaging and social media dynamics.
Pensions are protected from bankruptcy, but they aren’t guaranteed the same payment. There are maximum payments and it’s complicated to give an accurate number, because it depends on the type of pension plan, the age of retirement, years of service, and generally doesn’t honor bonuses like early buyouts.
Pensions have a number of multipliers that make job hopping less ideal. The formula is roughly percentVested x accrualRate x yearsOfService x maxSalary. Vesting hits 100% at 5-7 years, accrual is roughly 1.5% depending on employer. By leaving early you take big hits on the vesting and max salary multipliers that cause it to be a lot less money. One job for 30 year with 100k mak salary would be a 45k pension. 3 jobs, 10 years each with 50k, 75k, and 100k max salaries is only a 33,750 pension.
…OK, I’m fairly sure I understood…most of that. Thanks for the alternative perspective. I’ve generally only heard the negatives from people who’ve had their pensions replaced by 401Ks, so I guess it’s good to know what people see as the positives.