Comment by bradleyjg

Which is one reason that most private companies now offer defined contribution plans rather than defined benefit plans. That way a worker isn't dependent on the foresight, goodwill, or even existence of his past employer for his retirement. It is a far better for everyone involved. And if workers are nervous about investing these contributions into risky instruments they can use them to buy deferred annuities from AAA rated insurance companies and build their own "pensions".