I'm very sympathetic to the challenges of pension reform, but I'm also more & more certain we MUST deal with it. And this guest column gives a great argument why - some plans are trying to cut benefits of currently retired employees. They spent decades working under one set of promises, and now they are getting the rug pulled out from under them. Any plan to properly fund pensions needs to consider really carefully what to ask of those who already saw through their end of the bargain. That means, obviously, someone else must pay - see, it's not easy, I know that, but I also know if we don't have serious discussions, if we continue to 'kick the can down the road,' it's highly unlikely to fix itself.
What're your thoughts? Are you seeing anyone who's addressing pension deficits really well? I'd love to hear about it.
Kicking-the-can-down-the-road was easy - until now. But retirees are not responsible for this lack of funding and arguments that they should accept cuts are unfair.