I've already written a bit about United Airline's pension and its bankruptcy. There's an interesting article in Sunday's NYT ("
How Wall Street Wrecked United's Pension") with details about how the company changed the way it funds its pension plan, and how the money managers earned what appears to be more money than was paid in insurance premiums to the Pension Benefit Guaranty Corporation. The article points out how aggressive companies have become in funding pension plans (and mentions in passing that local governments fund their plans even more aggressively), and how their taking on extra risk is now coming back to bite them in the ass. And, unfortunately, it's going to be the taxpayers who wind up paying.