Originally Posted by Amnorix
Defined benefit pensions are definitely dying out outside government jobs. Defined contribution plans, however, still exist outside of government employees. I didn't see anything that makes clear which one this was.
Not sure what a defined contribution plan is, like a 401k? It said pensions, so I assumed that is exactly what it was, a pension solely funded by the employer. Something I lost many years ago, as did many of my peers, post 9/11. Like you though I am unclear as to what they are cutting out from these baker fellows. I was just speculating that it was a traditional pension. I could be wrong though, of course.