wrote in message
...
On 8 Nov 2006 12:32:56 -0800, "Frogwatch"
wrote:

As a small businessman, I have to fund my own retirement system, why
cant everyone else? Stop whining that you dont have a pension, i dont
either and never expected one. If you dont put enough away for
retirement, its your own fault.. You have had the opportunity, if you
didnt do it, dont whine.

The problem with that thinking is there are a lot of people who
thought they did have a vested pension and worked building it for
decades, until their company went belly up. There are loopholes in
ERISA that allow the benefits to be slashed and PBGC will not make up
the difference.

And for years you could put lots of money in to a SEP IRA plan in excess of
a person contributing to standard IRA. If you were covered under a pension,
you were really limited in tax deferred investing.