Help for underfunded pension funds
Pension funds have been in big trouble. 90% of corporate defined benefit pensions were underfunded at the end of 2014, according to Wilshire Consulting.
Pension funds must make sure their assets grow at a pace adequate to cover future liabilities. An earlier Wilshire report noted that low interest rates have made that goal difficult to achieve.
"It is putting pressure on the already-weak pension system," Scott says.
But Rubin says most retirees don't have pensions and have not been affected.
He also believes that current pension recipients have been unlikely to see their payouts cut. Future retirees may not be as lucky, he says.
Moore agrees: "It is hard to know if clients can depend on (pensions) for their retirement income."
Workers who are worried about their company's pension plan must take action now. "They need to save more or work longer, as well as delay Social Security, to maximize the benefit they will receive," Moore says.