dno
> I agree. One needs to view this as a
> mega-trend. Not only will retirees be
> looking for work because of their
> underperforming IRA's, 401k's etc.

> What do you think will happen when their
> company pension check is cancelled? Check
> out the following;

> Reuters Business Report
> Pension Hole to Hit S&P 500s in 2003
> Saturday September 28, 7:48 am ET

> By Thi Nguyen

> NEW YORK (Reuters) - Stocks slumping for the
> third straight year will leave large
> portions of the pension funds of hundreds of
> top U.S. companies underfunded at the end of
> 2002, investment bank Merrill Lynch &
> Co. (NYSE:MER - News) said.

> These companies, which include General
> Motors Corp. (NYSE:GM - News) and some other
> big names in the broad Standard & Poor's
> 500 index (CBOE:^SPX - News) , will take a
> hit to their 2003 cash flow and earnings as
> they will be forced to contribute billions
> of dollars to their pension plans -- waylaid
> by the stock market's spectacular decline
> since 2000 -- to comply with U.S. laws that
> protect employee retirement funds.

> MORE:
>
> http://biz.yahoo.com/rb/020928/markets_stocks_pension_1.html