Originally Posted by pb4uski
It so old as to be irrelevant. My adult son was hardly a glimmer in my eye when this article was published.
Some of that stuff did happen long ago when some pension plans were overfunded.
I have not done an academic type study on this, but it seems to me that, over time, the vulture attacks on just a few companies would have caused other firms to either underfund their pension plans, or just stop them entirely? Especially after the 401k came into being in 1980. Why bother with the pensions, especially if it could potentially be a liability, when you can provide a 401k instead. IMHO.
My first fulltime megacorp job was in 1980, and we had a company stock fund that was a nascent 401k, and it expanded from there.