Re:210 Zappos employees – 14% of the staff – take buyouts af...
by limeyx on Monday May 11, 2015 @12:44PM
(#9526041)
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
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".