retired with fixed pensions from non 401-K sources.
Do not ingest a false sense of security in that thinking. A friend whose company placed their retirement in life long annuities has recently received a letter stating the monthly amount will be reduced for all the horrible reasons we all know. And that there is a possibility under a continuing down turn, the fund could run dry.

That same condition exists more or less with all pension funds. So I would not contemplate being invulnerable.....not likely but not invulnerable.

BTK

PS a sad reminder is all the pensioners with GM who got taken last year....and that was before they publicized their demise before Christmas 2008....happens to the best and more will fall if the bad news continues...and so far it is the only sure thing!!!