Edward Wolff Quotations

With IBM gone, it won't be long before a lot of other companies follow suit.

Things are not looking good for retirees with the collapse of the defined benefit plans. In 20 years, the only people with these plans will be government employees.

It would be very unusual for workers to make up for the shortfall and it might certainly be a good way to shock people into saving more -- tell them they now have to put aside 12 percent of the earnings.

It's a sweet deal for the firm. Most workers will wind up worse off as a result of the defined contribution plans. Some might be better off if they invest very well. Most people aren't sophisticated investors.