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Old September 29 2012, 12:11 AM   #317
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Re: NFL 2012 - Drive to Glory

Ar-Pharazon wrote: View Post
Timby wrote: View Post
tighr wrote: View Post
I would be royally pissed if they actually took our pensions away (I don't know that they are legally able to do that).
They are not. By definition, pensions are deferred compensation -- you've already earned the money, it just isn't being paid out to you until a later date. If your employer decided to take away or otherwise cancel your pension, you'd have grounds to sue them into the next century.
United airlines got around it with the bankruptcy.
Technically, United didn't cancel the pensions, it merely defaulted on them, which led the court to punt the responsibility to the federally operated Pension Benefit Guaranty Corporation -- which, in turn, couldn't fulfill the pensions due to being overburdened and underfunded.
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