One of the more striking demands of the auto workers during the recent UAW strike was for the Big Three to bring back pension plans. Yes, the same plans that…
One of the more striking demands of the auto workers during the recent UAW strike was for the Big Three to bring back pension plans. Yes, the same plans that"" during the financial crisis when the industry faced $77 billion in underfunded pension liabilities, before two of the Big Three carmakers ultimately filed for bankruptcy.fifteen years of near-zero interest rates created similar headaches for the rest of corporate America.
Needless to say, boardrooms have been more than happy to make pensions a relic of the past. Workers, though, put a high value on the security that comes with guaranteed corporate payouts in retirement, as opposed to self-managed 401 investment plans. And suddenly,in The Wall Street Journal, high rates have helped boost corporate pensions by lowering the current value of future payout obligations. The top 100 plans, according to J.P.
But the return of pension-like offerings to private sector workers could actually come at a critical time. If the private sector can find appealing ways for both workers and employers to offer better retirement security,
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