A few comments...
If pension funds are Federally insured then they are in trouble. So many big company pensions have gone under that the system to protect them is nearly broke.
I only have a small pension with a former employer, and nearly all of my 401K, which is the bulk of my retirement savings has been seriously beaten down in the past 6 months. All things considered I think I'm in good shape though.
I don't believe SS is dead and I do expect to get benefits when I retire, and that's a few decades off mind you. I'm well aware of the issues but there's time to correct.
Not sure what Sokinwet means by "taking it on the chin"...like a boxing match or UFC match, most blows don't really land and don't score points. In fact, I've yet to see someone really connect
-spence