The only defined benefit plan left is social security , which is fast going into insolvency in exactly a decade, and where it will automatically be cut 25% once that happens!
“contrary to a common misunderstanding. In 2035, if nothing else is done, the program could pay 80 percent of scheduled benefits, mostly out of workers’ ongoing contributions, a figure that would slip to 74 percent in 2096”
Thanks for the 5% correction. I'd have to research more to be sure, but I'll give you the benefit of the doubt.
My point remains, to be in support of defined benefits, you must not be OK with unilaterally changing the de-facto definion of defined-benefit for SS?
How is it OK to literally pull the rug under people that paid - all their lifes - with the promise to get X on retirement, and will now get X-Y instead ?
The only defined benefit plan left is social security , which is fast going into insolvency in exactly a decade, and where it will automatically be cut 25% once that happens!