This is one of those topics I know all too well. In my previous life I was a trustee on a defined benefit plan and did a fair amount of trustee education for the International Foundation of Employee Benefits. I could give you chapter and verse about how and why we got here, but what's the point at this stage of the game? Sadly, several of the "labor leaders" around the country bought into the argument and helped lobby to make this change to the laws protecting workers pensions. And while those same hogs walk off into the sunset with their massive pensions intact, the average working man and woman who has retired potentially could be facing cuts that will impact them for the remainder of their years. Why it hasn't gotten more coverage is interesting, I suspect in part because those who stuck it in the bill at the last minute don't want to tout it as an accomplishment. There's nothing pretty about screwing people, especially retirees.
