I didn't watch the video, but the Pension Benefit Guaranty Corporation would pay him if Yellow Trucking didn't. The argument is about the source of the money,

I didn't watch the video, but the Pension Benefit Guaranty Corporation would pay him if Yellow Trucking didn't. The argument is about the source of the money, not if they'll get paid. > how it is legal to just take it away randomly That's not what's happening. It's not random, the company has no money, so it can't pay. Instead the PBGC will pay in such a situation (companies pay an insurance premium to it, in case to go under). This particular argument is about leftover money - how much should go to which company, it's not about the individual retiree.