I basically agree with you here, Alan. However, for those of us who had the pension and lost it, there is lost value that has not been recouped. I'm not at all suggesting we should return to a DB. in fact, I absolutely do NOT want to do that. But that lost value is real and should be part of the context for the improvements we seek going forward.

To be clear... when I talk about "lost value" I'm not talking about comparing how my retirement is turning out versus how it would have turned out with the pension. It looks like I'm actually going to end up doing better than I would have with the pension. What I'm talking about is that the pension represented a certain value, and that value was lost.

When you factor in things like the claim, note, merger stock, company contributions, etc., it offsets SOME of that lost value but not all of it. (Plus, wasn't all of that touted as being intended to partially offset the pay cuts, not the retirement?) Don't forget we already had a 401k in addition to the pension.

And it should be noted that not everybody is in the same position I am when comparing their 401k (DPSP) to what they would have had with the pension. It's all subject to the whims of the market and how each of us individually handles that.