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'Retirement Heist': How Firms Trimmed Pensions

Morning Edition on NPR
Date Published: 
Thursday, September 29, 2011

As companies have been moving away from traditional pension plans, they have been shifting employees to new retirement plans, such as 401(k)s, that transfer the cost — and the risk — to workers.  Companies have claimed for years that old-style pensions were unsustainable. Author Ellen Schultz tells Morning Edition host Steve Inskeep that there's another explanation.