Pension Wreckage
July 31st, 2005 by 
InLibrisLibertas
Excellent article in the New York Times describing how United Airlines’ pension scheme was effectively destroyed (along with many others as we will discover in the future). Short summary: Wall Street persuaded the trustees to invest in stocks, instead of the traditional matched-maturity bonds, and then reducing contributions based on the assumed higher returns.
Posted in Retirement, Rogues and Rascals | 