End of Pensions as We Know Them?

If you have a vested pension (also known as a Defined Benefit Plan) you are probably in the minority today unless you've worked for a government entity.
 
Pensions are going the way of the Dodo bird as employers over the last 10-20 years shifted gears and incorporated the 401(k) Plans, with employers match, as their version of employee retirement safety. But guess what? Many employers are now withdrawing their "voluntary"safe harbor contribution and advising employees that the plan is still viable and the employee can still make contributions to the Plan, but the employer is CANCELING their employer match portion. Many of these employers had previously terminated/froze their Defined Benefit Plan. These employers now make no contribution to employee retirement in effect, reducing the compensation of all affected workers.
 
 Do you, or your spouse, have a pension plan that is vested? Are you sure?
 
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Pension experts predict that a government takeover of the two giant plans would spur other auto companies and all types of manufacturers to abandon such benefits for competitive reasons.
 
For hundreds of thousands of retired auto workers, a federal pension takeover would mean sharply reduced benefits. For the federal agency that insures pensions, it would mean a logistical nightmare in the short term — and most likely a slow demise eventually as fewer and fewer small plans remain in the system and pay premiums.
 http://www.nytimes.com/2009/04/24/business/24pensions.html?_r=1&em