Originally Posted by
thevagabond
Well then according to that logic since the airlines are making money hand over fist we'll all be pensioned soon. Right? Trying not to be facetious but 9/11 wasn't the reason. It certainly helped with their justification for doing it.
In essence, yes. Instead of the defined benefit plans, airlines are compensating you at the same rate, if not better, with a defined contribution plan. What's is up to now? Sixteen percent?