Originally Posted by hair-on-fire
I don't think the problem has been the basic pension idea; it's the funding requirements that the law demands. Companies have been able to delay funding until they're so far behind they can't catch up.
UAL was able to use "credits" attained during the time the plan was over-funded to legally avoid payments for quite some time. The laws that were passed to "protect" the worker, actually worked against us.
In many parts of the world, this would be totally illegal.