[LanceH]

I see parallels between water rights "xxx acre feet per year" without regard for how much water is incoming, and pension funds where they simply declare how much will be paid out.

I really can't tell the difference between people being uncaring or just stupid about either.

[p-e-w]

The whole pension fund concept only works because it declares how much is going to be paid out.

Who’s going to pay in if the fund expects a guaranteed commitment but refuses to give such in return?

[JumpCrisscross]

> Who’s going to pay in if the fund expects a guaranteed commitment but refuses to give such in return?

Literally defined contribution [1].

[1] https://en.wikipedia.org/wiki/Defined_contribution_plan

[ericd]

401ks don’t guarantee results for a given amount of input, and people still stuff away lots into them?

[hvb2]

The tax code is also really powerful in sending money to certain products

[arjie]

It’s called a defined contribution pension as opposed to a defined benefit pension. They exist.

[skeeter2020]

not only do they exist, they are by far the more common variant. Whenever you hear about a massive unfunded pension liability it's a defined benefit plan.