Pensions Are Taking the Long, Lonely Road to Retirement

Quoted: In the private sector, the situation has been far more stable, though not universally. “Bankruptcies in the airline and automobile industries have provided opportunities for these companies to get out from under what they viewed as long-term cost obligations,” says Barry Gerhart, professor of management and human resources at the University of Wisconsin – Madison. The pension commitments “were playing a key role in preventing them from being competitive or even turning a profit.”