Non pre-funded pensions are absolute madness. Pension funds are going bankrupt left and right. They are built on the ridiculous premise that the fund’s investme

Non pre-funded pensions are absolute madness. Pension funds are going bankrupt left and right. They are built on the ridiculous premise that the fund’s investments will perform well or that the parent company will be making enough money to pay out anyway. They should probably just switch to defined-contribution plans and abandon the pension program altogether. I imagine politics got in the way of that, and that pre-funding the pension is the compromise position.