Stephen Colbert on 'Backsies' and Pensions

Some thoughts on corporate behavior regarding pensions from Stephen Colbert, host of the Comedy Central program The Colbert Report. His tongue-in-cheek analysis: Just work for 100 more years and you're home free.

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And finally some thoughts on corporate pensions from Stephen Colbert of Comedy Central's "Colbert Report."

(Soundbite of "The Colbert Report")

Mr. STEPHEN COLBERT: Everybody who's expecting a pension, take one step forward. Not so fast, America...

(Soundbite of laughter)

Mr. COLBERT: ...'cause tonight's word is...

(Soundbite of bell)

Mr. COLBERT: ...backsies.

(Soundbite of laughter)

Mr. COLBERT: Backsies is the technical term for reneging on a previously settled agreement.

(Soundbite of laughter)

Mr. COLBERT: We've all done backsies, asking for the return of your Barbie doll or baseball card. In fact, 50 percent of all American marriages end in backsies.

(Soundbite of laughter)

Mr. COLBERT: Corporations have simply adopted this beloved ritual of childhood. That means, retirees, free ride's over. In retirement, you're gonna want an annual income of about half of what you made when you were working. So let's say you save 10 percent a year. You need 50 percent a year so you just need to work five times as long as you would like to be retired.

(Soundbite of laughter)

Mr. COLBERT: So let's say you wanted to live in retirement for 20 years. All you have to do is work for 100 more years, you're home free.

SIMON: You're listening to WEEKEND EDITION from NPR News.

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