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Yep - just like those of us who joined the Military and were promised free health care for life for us and our spouses. Congress decided to remove it because it was inconvenient to the spending habits of the day (better to use the funds to support those with no value to society). Use that as an example of how the government will promise one thing and throw you out with the slop after they get your vote and the Left (along with too many on the Right) will say it only makes sense as Military folks don’t deserve any better treatment than them. I had a friend make a statement like that and asked him what his retirement was expected to be. It was expected to be pretty lucrative and I asked him how he would feel if, when it was time to retire, the company told him that it was too expensive and he wouldn’t get it. He said he had a contractual agreement with them. I told him that I had the same agreement with the DoD and they reneged, what made him think it wouldn’t happen to him. It eventually did happen and he remains pissed to this day.

So many pension plans have been destroyed by companies going out of business or using "strategic bankruptcies" to void contracts that I won't trust any plan other than a defined contribution plan that I can take with me when I leave. Those are far safer, especially if some third party is holding the money in trust rather than the company itself. Since the government makes its own rules, any retirement plan organized by it is by definition inherently insecure - especially Antisocial Insecurity.

my husband HAD his company basically steal away his pension and his post working years medical...after 27 yrs...that has left us in quite a quandry because I have to pay a ton of money to get him health insurance thru my work...

so yes...many private plans go belly up and no one really gives a darn about it...

Life is not fair afterall...people better stop pretending that it won't happen to them because it very well could happen to a lot of people....