[news] US Social Security Reforms Linked to Corporate Welfare

[Resist!ca]

"[...A]s United Airlines prepares to dump its pension obligations on the federal government in the largest default in U.S. history, it looks like the last curtain is about to fall on traditional pension programs. When the government insurer, PBGC, takes over pension plans, benefits are often reduced due to legal limits. Of United's underfunded $9.8 billion, just $6.6 billion is guaranteed. The government estimates that defined-benefit programs are underfunded by $450 billion."

URL: http://resist.ca/story/2005/5/28/125355/713