Quote:
Originally Posted by Posh 08
When the pension program changes out of the blue and workers have less than they started with, that's a problem that all workers should have sympathy for IMO.
|
That definitely is true. Some years ago, one of the major airlines went bankrupt and out of business. It was Eastern, I think. Some of their retired pilots were getting about $6,500 per month in retirement pay. Not too shabby, if you ask me. However, when the company declared bankruptcy, the pensions were cut back to around $1,000 per month. That would be a shock to go from $78,000 per year to $12,000 per year.