By Josh Katzowitz, WCI Content Director

From 1875-1990, tens of millions of workers felt the comfort of holding a pension, where dollars from your workplace would continue to roll in even after you had stopped punching a time clock for good.

The pension system was much needed in the US. As noted by Georgetown University, 75% of male workers over the age of 65 were still working by the late 19th century (remember, this is a good 40 years before Social Security was implemented), and a large majority of those employees probably continued with their jobs until they died in their work boots. By 1970, 26.3 million Americans (about 45% of all private-sector workers) were covered by a pension plan, and a decade later, more than 35 million workers enjoyed that benefit.

Pensions eventually fell out of favor, and 401(k) plans soon replaced them as a retirement savings vehicle

Keep reading this article on The White Coat Investor.