Under PBSC settlement of a pension, which is something that occurs if a firm goes bankrupt, most people receive their entire pension. There is a maximum which is in the low 60k range for 2019 retirees.
That is not my opinion it is the law. PBSC, works like FDIC does in that they have auditors check funding of pensions. They can get low on insurance funds and have in the past. They raise their standards for PBSC covered pensions and raise insurance premiums.
If some sort of pension funding disaster occurred, I am sure Congress would be forced to act. That has not occurred.
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