[refurb]

Listen to this guy. I'd much rather get a big 401k match and have the money be mine than trust that my pension will be there based on the whims of the company and market.

Look at the airline industry. Plenty of pensions have been restructured during the string of bankruptcies. Pensions are guaranteed by a federal body, but only up to ~$50K/yr I believe. You'll never get less than that, but you $100K/yr pension might get cut in half and the gov't will say "that's the best we can do".

[limeyx]

Yes, these days a private pension isn't worth the paper it was written on in many cases.

These things should always have been administered by 3rd parties and required to be fully-funded.

No "executive" can look at so much money "just lying around doing nothing" without wanting to get their grubby little hands on it.

Very sad for a lot of people