Defined benefit plans disappeared from most businesses more than FORTY YEARS ago - except by folks who had strong labor unions.
Coupled with outrageous 'discount rates' that could be applied to those layed off, the defined benefit plans were gutted deliberately by laws passed by the federal government. Big Corps working hand in hand with the gov.
The defined benefit plans that remained were underfunded by businesses, and WE TAXPAYERS ended up paying the retirements (through the retirement guaranty federal insurance program) of millions of private sector workers.
The public sector workers - even worse.
Finally, brethren, whatsoever things are true, whatsoever things are honest, whatsoever things are just, whatsoever things are pure, whatsoever things are lovely, whatsoever things are of good ...