It is amazing the amounts in the under funded pensions in Corporate America. It is equally alarming the number of people who will not receive the pension they thought they would when they retire. What will folks do? Will they continue to work well into their 80s? People are living longer do not forget.

Many corporations simply cannot make good on their promises and there simply is not the money available needed to supply all those people with what they thought they had in the bag and due to them in their retirement. There is a 313 Billion Dollar and growing shortfall in the Pension Benefit Guaranty Corporation. How can they make this up?

Well how about raising insurance premiums? Ouch. Increased pension contribution of employers and changing interest rates in actuary formulas for those defined benefit plans. But in doing this it will most likely mean employers will no longer participate in defined benefit plans and those already in existence will curtailed, closed or end up lesser cash balances.

Bummer for the many and the few indeed. Looks like the American Workforce will be on their own in the future and need to take more responsibility for their own retirements? Fat chance of that. Just look at the credit card debt these days, as it is nothing short of totally irresponsible? Think on this in 2006