No real detail on which retirement funds are underfunded and why. This has only just begun and has been foreseen for many years in advance. This is another known problem where the can has been kicked down the road time and again.
This may be a clue...
The Retirement Security Coalition includes employers, labor unions and policy experts in conjunction with UPS, the United Association of Plumbers and Fitters and the U.S. Chamber of Commerce.
That description is so broad it could include just about any business and union, plus I’m confident that many state and local governments also have significantly underfunded their pension promises. Of course, the feds would just borrow more if they have the same problem.
The US will be extremely fortunate if the problem only involves 1.3 million future retirees.
This article says almost nothing of any significance. No detail as to how and why these plans are under funded. Whose responsible? If we start bailing out some plans with no consequences, other plans will go hog wild paying benefits, knowing they can get bailed out.