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Subject:  Re: Another reason to save for retirement Date:  10/27/2013  3:02 PM
Author:  BruceCM Number:  73656 of 78168

But that doesn't guarantee they'll receive benefits promised. IIRC, several years ago some airline went bankrupt, PBGC covered the pensions but the pilots and stewards were taking about a 30-40% cut in payout.

Yes, I didn't mention the insured maximum as it seems excessive to the OP's original comment which deals with modest pension benefits.

But the pension cuts to many (most?) of the retiring airline pilots was far more than 30-40%, at least for the career pilots.

As an anecdote, I was teaching a CFP class at Seattle University in about 2005, and had an older looking student who