<prompt> Human: What are some general thoughts and concerns on pensions in todays day and age. There are two career possibilities municipal or union that I have that both offer a pension, yet I feel somewhat apprehensive about counting on a pension when it feels like theres always a new story of them being reduced. What would be the worst case scenario for someone expecting to retire with a pension?  <response>: The worst case scenario is that the pension runs out of money and cannot pay out benefits as promised, or at all. You shouldnt put all of your retirement eggs into one basket. If there is a 457 or similar deferred compensation plan offered, use it as well as an IRA andor taxable investment accounts to ensure that you are also saving for retirement outside of the pension. 