For me personally, that’s what I would do. Because of the liability of a pension, I would be saving as much as I could in other vehicles.

But how many people with the promise of a $100,000+ a year pension would be doing that?

I don’t know the statistics on that, but I do see a lot of old airline pilots working as simulator instructors, etc after age 65. They all seemed to be legacy guys who lost a pension in bankruptcy.