Employees Are Urged To Prepare For No-Pension Retirement

As workers make their retirement calculations, they should keep in mind the two, sometimes opposing, principles that govern the U.S. pension system and that the new law, the Pension Protection Act, reaffirmed. An accrued pension can't be wiped out, but companies can walk away from promised future benefits at any time. That means workers who still have pensions will have to do some more homework to determine how much money their plans are likely to provide, experts say.