Originally Posted by Gearhead Jim
Things may have changed, but when my pension was turned over to the PBGC in 2005 they used some very creative math to reduce the amount of money you get.
Yes, but your situation was likely far from typical. As I recall from previous discussions, you were a pilot. From what I understand, the normal pensions were a pretty high $ amount (and I'm not saying they weren't earned/deserved, I'm just talking numbers here), and some rules that forced retirement at 60 (I think?) play into the formulas. So this complicated things, and from what I recall, the pilots really did take a big haircut from the move to PBGC.
But someone with a more modest pension, and no special rules will probably be OK. At least from what I understand.