zlacker

What usually happens is the trust is underfunded, and the company makes it up in real time. When the company goes under, the pension plan gets assigned to the federal government's Pension Guarantee Corporation and if your promised pension is above the guarantee amount and above the funded amount, you take a hair cut.

If you're lucky, you've been getting audit reports about the underfunded pension for years, so you could prepare, but you probably couldn't do anything about it.

If your employer had put the pension funding in a 401k account for you, you would know what you have, and be able to separate from the employer and not have to keep in touch to make sure they're holding their end of the bargain.

>>toast0+(OP)
Pension mechanics are always important to remember, but especially important when the company is struggling.