In my opinion, at least, this is partly because the memory of years like 1930 and 2000, when stocks performed very badly, occupies too large a place in investors’ minds. Workers and other asset holders place a very high value on safety, security, and predictability, so a defined-benefit pension plan is extremely valuable.
依我来看，这至少是由于对1930年和2000年的记忆占据了投资者头脑中过大的位置。当时，股票业绩极差。工人们以及其他资产拥有者非常看重的是安全、稳妥以及可预测性。所以，固定金额养老金计划非常有价值。