"The Puzzling Lack of Pensions Among Americans"

A recent survey indicates that most Americans prefer traditional pensions over 401(k) plans for retirement security, despite the decline of private-sector pension participation. While pensions are popular, they are largely confined to the public sector, and their return to the private sector faces challenges due to cost and complexity. Although some recent developments have sparked enthusiasm for a pension comeback, retirement experts do not foresee many corporations reviving traditional pensions due to their expense and the shift of risk from the employer to the employee.