Yes, and there was a time when junk bonds crashed and people were worried about whether their pensions would continue to be paid.The industry claims that so far they have always been able to rescue any failing company--usually a stronger company acquires the assets and contracts of the failing company--and make good on their contracts.But with large numbers of baby boomers starting to collect, people worry if that will always be true.Same old, same old. The same headline gets recycled about once per decade. Details change, but the safety of long term promises is always a popular subject.
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