Here’s how we got here.
Senator Howard Metzenbaum (champion of labor) slipped a poison pill in the Tax Reform Act of 1986 changing the rules for Defined Benefit (DB) pension plans in vesting rights from 10 years to 5 years. This change was to take place in 1989. I worked for a company with 20,000 on-site employees (jet engines) in Evendale, Ohio in 1988. The massive layoffs started soon after. This was so easily predicted. Now we have 20,000 illegal invaders crossing the border in a week to take American’s jobs and private company Defined benefit (DB) pension plans have been gutted. Now American workers are being outright replaced.
You don’t think Howard knew what he was doing? Introduced in the Senate as S.3527 Worker Adjustment and Retraining Notification Act of 1988 by Howard Metzenbaum on June 16, 1988. In 2001, there were about 2,000 mass layoffs and plant closures that were subject to WARN advance notice requirements and that affected about 660,000 employees.
88 percent of public employees are covered by a defined benefit pension plan.
https://en.wikipedia.org/wiki/Defined_benefit_pension_plan
https://en.wikipedia.org/wiki/Tax_Reform_Act_of_1986
Metzenbaum was a real piece of work. He was also a rabid anti-gun zealot.