I am really starting to believe that there are no "honest"politicians that actually work for the people.Show me one that cares about what happens to retirement benefits and that's who will get my vote.....perhaps if we could control our own tax dollars on how it is spent,then we could have the power that the corporate bullies have.
Please stop it. Politicians don't care about you and most managements really don't when it comes right down to it, other than wanting people to be happy so they work well for the company's benefit. If it comes down to your happiness or the company's financial viability - you lose. Altruism does not rule the day in business or politics. Accept it and you'll spend less time being regretful and more time building a future for yourself.
Life has setbacks. Hoping that a touchy feely person or entity is out there making sure you don't have any financial concerns in your later life is fantasy. People need to pay off the credit cards, buy less expensive cars, eat at cheaper restaurants, put the kids in less activities, tell them "no" once in a while, put the wife on a budget (less manicures and pedicures - gasp!) and buy houses they can afford. They can then use the extra disposable income to sock away retirement money. And you people need to learn about this stuff. It's not somebody else's job. If you've got $1 million in a retirement account some day, you'd damn well better understand things like "Bond prices go down when interest rates go up" and vice versa, etc. Or hire somebody to do it. It's not somebody else's responsibility to do this for you.
Also, I hear people talking about their pensions being taken away. Those weren't taken away. They were frozen. There's a difference. Bottom line, you are now taking the investment risk and not the company with what's left. Learn about it. It's not asking too much. There are rumors that Abbott will move more this way too and they already started it to a degree, as witnessed by last year's massive retirements. If it's true that there's more to come, Abbott won't be the only one You can run...................