Reply #5: this is a time bomb [View All]

[AnneD]

waiting to explode.
1) more co are walking away from their obligations to the employees that built the co. They see withholding contributions to the PBGC as a cost reduction strategy.
2)When it goes under, the ceo's get the golden parachute and the pension funds are way behind every other creditor in recooping money.
3)As more and more Boomer's start retiring, the strain on the PBGC will crash the system. And just like my friends at Enron, these employees will enter retirement with out adequate funding.
4)Couple these with changes to SS and you have a bleak retirement picture indeed.