It doesn't take a crystal ball to figure out that corporate pensions are going the way of the buggy whip. I'm a post-baby boomer, and so 
pensions (and Social Security) don't mean much to me. I never consider them in my retirement planning and if they ever do materialize, I figure they'll pay for a Starbucks latte.
Folks a few years ahead of me though, are approaching their 50's and 60's and are far more likely to be building entire retirement scenarios around pensions plans. Delta Airlines, it seems, is just one of the latest companies to have to tell its long term employees that they failed to fund their plan adequately. This time, to the tune of over 10 BILLION dollars,
Over 6000 Delta airline pilots will not be eligible to receive the highly desireable lump sum option and many will have to take pensions quite a bit less than expected. It's back to the calculators for those already, or soon to be retired. Sounds like a rough landing.
Comment Preview