Here’s a neat statement about pension plans and, for that matter, most rich employee benefits or even social welfare programs:
[T]he most important thing we can do is to eliminate the expense, risk and volatility of the defined-benefit pension plans many of our employees have enjoyed over the years. . . . They are great for employees, but they are, sadly, unaffordable.
Oh, that old affordability business. Just like an employer, eh?
In this case it’s New York Times management to its newspaper guild editorialists. Like something out of the National Assn. of Manufacturers.
Economics makes strange bedfellows, no?
Blithe Spirit 