I would think that the larger problem is "overfunding" pensions. The IRS has some pretty strong ideas about what constitutes an appropriate amount of funding f

I would think that the larger problem is "overfunding" pensions. The IRS has some pretty strong ideas about what constitutes an appropriate amount of funding for pensions because there were a few situations in which it could be used as a tax shelter (http://www.thedailybeast.com/articles/2013/05/09/how-the-irs-wrecked-your-pension.html http://www.thedailybeast.com/articles/2013/05/09/how-the-irs...). Without the tax benefit, employers are discouraged from putting an appropriate amount of money in during good years.