In the good ole days of corporate America, people would retire knowing a pension check would arrive every month. Now, that company-funded nest egg has gone bad.
With two major airlines facing bankruptcy, and one seriously considering it, the health and retirement benefits for millions of Americans are in jeopardy. In the past, the federal agency that guarantees pensions would chip in enough to keep people going. Now, the bankruptcy wave is so high that it might swamp the federal system too.
Hear about putting money away, and then watching it disappear.
Guests:
Douglas Elliot, President of the Center on Federal Financial Institutions
Janice Gregory, senior vice president of the ERISA Industry Committee
Teresa Ghilarducci, Professor of Economics and Policy Studies at the University of Notre Dame