I was following you until this: ". What the heck? Do you Canadians get the shakes if you're more than three hours away from a Timmy's or something?" Three hours from a Timmy? You kidding? Try 3 in a block in this area. It's worse than Starbucks in Seattle!

I think you're beating around the bush too much. Defined benefit plans are evil, plain and simple. Well, maybe the plans aren't evil, just the actuarial tables they are based on. They give the illusion of predictability when there is no such thing.

I don't know quite how defined benefit plans came into being, but they rely on too many outside factors to be allowed to exist. I'd rather have defined contributions so that the person nearing retirement can be aware of problems and make adjustments in expenses and living standards. Having someone else responsible for the quality of the plan means that when the house of cards collapses, the beneficiary is left with nothing at a time when they can't adjust anymore. Of course that usually means the rest of us (those of us who don't have defined benefit plans) have to step in because it is the right thing to do.

And I speak as one who will benefit from one of those evil plans through my wife.