GE will soon sell off its pension liability to an insurance company. The pension is then not guaranteed by the pension board and the insurance company is sure to mismanage it. Do not rely on your pension being there.
Somebody who knows more about this stuff than I do, can this really happen?
Could this happen sure! I think we will first see an entire freeze on pension for those who have not been frozen yet. That I think will come in the next year or so. I think even if an insurance company picked up pension and the company failed there would still be some insurance backing for the ones who get already are receiving pension. The ones who are not could possibly not receive what they are forecasted at retirement. Basically a new value could be calculated.
Hmm can the rich and powerful hose the honest working man out of his hard earned money? I don't need an expert to answer that question. You had better prepare for the worst and hope for the best.
Yes they can do keep working for a false promise that was made to the American worker.
Yes, but some other things need to happen first.
https://www.pbgc.gov/about/pg/other/how-pension-plans-end