Even well managed funds can result in someone getting the shaft. My dad's pension (Delphi Salaried) was cut to 50% of what it was supposed to be after the even

Even well managed funds can result in someone getting the shaft. My dad's pension (Delphi Salaried) was cut to 50% of what it was supposed to be after the events of '08, and it was funded to something like $0.86 on the dollar, above the national average. The hourly workers (i.e., unionized) still got 100%, which was pretty unfair.