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<blockquote data-quote="59 Dano" data-source="post: 987353" data-attributes="member: 23516"><p>A company has to be in dire financial straights to be granted permission by the government to terminate their pension obligations. We're talking on the brink of going out of business if they aren't granted the ability to turn their unfunded pension obligations over to the PBGC.</p><p></p><p>Not to stir the pot (much), but there again is reminder about the risks inherent in offering defined benefit pensions. The industries noted for their ample retirement pensions --steel, auto, and airline-- are the ones that have suffered disproportionately in the last 20 years. DB pensions offer payments to retirees for life under the assumption that the company will always generate enough revenue in the future to pay all of its bills (a relic of the post WWII economic boom) and that the retiree won't live too long. Those are some very expensive assumptions.</p></blockquote><p></p>
[QUOTE="59 Dano, post: 987353, member: 23516"] A company has to be in dire financial straights to be granted permission by the government to terminate their pension obligations. We're talking on the brink of going out of business if they aren't granted the ability to turn their unfunded pension obligations over to the PBGC. Not to stir the pot (much), but there again is reminder about the risks inherent in offering defined benefit pensions. The industries noted for their ample retirement pensions --steel, auto, and airline-- are the ones that have suffered disproportionately in the last 20 years. DB pensions offer payments to retirees for life under the assumption that the company will always generate enough revenue in the future to pay all of its bills (a relic of the post WWII economic boom) and that the retiree won't live too long. Those are some very expensive assumptions. [/QUOTE]
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