Houston city pensions

Current events suggest that the editorial board should rethink its editorial “Pension tension” (Page A18, June 23). The United Kingdom’s unexpected “Brexit” vote shook markets and has many who are invested in 401(k)s worrying what this means for their retirement.

I have been working for the city of Houston for 11 years as a structural inspector. Every day, I conduct inspections to make sure that the residents of the city are safe when they enter buildings, when they go to work and when they go to shop. It’s not glamorous work, but I’m proud to do it. And I know after putting a career in service to Houston, I won’t retire into poverty, thanks to my pension. I also know that savings I put aside and every paycheck for all my working years won’t evaporate when a world economy causes chaos.

401(k)s were designed as a supplement to a defined benefit pension, not as a replacement. The rest of the modern industrialized world has moved to secure defined pension systems for their labor force as a way to strengthen and stabilize their future economies. Europe considers a stable pension system as a national security issue. So, with the rest of our allies racing to the top, why are we trying to race to the bottom?

All Houstonians deserve the security I have. I commend Mayor Sylvester Turner for standing up for defined benefit pensions. We all deserve to retire securely and with dignity, and everyone knows a 401(k) won’t let you do that. Daniel R. Box, Crosby