I've worked for lots of companies that promised something when "things turned around" or "got better" and it was part of my wages to be paid in the future. None of it ever panned out, so I took measures to take care of myself.
They sould count themselves lucky to be receiving 90% of their pensions, that too could be 0%.
I'm sorry it happened, but I don't want my money going to pay for something I had nothing to do with. I need it myself because I have to take care of myself.
My mom and I have talked about this a lot. My dad went into management (out of the union) because of the promises made to him by the company. This was back in the early 70's, when people still believed that if they stuck around and did their job that the company would abide by it's promises. And at the time the company was very large, very stable (and dependent upon Bethlehem Steel, incidentally).
Well, the promises have largely gone by the wayside and my parents have done a good job of saving for themselves and being responsible so they'll be ok. But it strikes me, when I think about how my husband is offered no retirement benefits aside from some matching funds in the 401k, that maybe we're better off knowing way in advance that we're on our own.