On Sun, 28 Feb 2021 10:22:14 -0500, Ralph Mowery
wrote:

In article ,
says...

Pensions from companies are generally going to be a fixed annuity.
They make a one time pay out to a financial institution. Back in the
olden days a company doing well might throw more money in the pot and
raise the value of the annuity but that is not likely these days. If
anything they will raid the pension fund and reduce it to the minimum
required by ERISA.



The company I worked for has changed owners several times. The first
one had a pension fund of about 2 times the required or needed money.
They raided that money to make the company more attractive to buyers, or
else the buyers took that extra money. Hard to remember what they did
about 30 years ago other than I remember a TV special on a show like 60
minutes showing how they raided that money.

One thing I seem to remember is the pension funds are somehow connected
to a sort of insurance thing where if the pension fund or company
funding it goes under, then you still get a guaranteed pension, but it
may be less than what you were getting.

PBGC will match your core benefit but that will not include anything
but the pension itself. No other benefits COLAs or other things you
might get are covered.
I also understand if you retired early and got a full pension, they
might recalculate your benefit using the original formula and that
will might much less.
In my case the pension is actually a paid up annuity so the failure
would have to be Fidelity. We already know the meager amount they
throw at my health care is at risk with nothing more than a vote from
the board. It is less than $4k a year so I would survive.