Excerpt: The traditional pensioner is becoming a rare breed. In the past five years, no firm has launched an old-style pension plan. Many companies are closing them. Some steelworkers, engineers, and now airline pilots have seen their nest eggs cut when employers went bankrupt - or switched to other retirement plans. But hybrid plans, which combine several pension features with new flexibility, could offer workers a stable retirement. They're called 'cash balance plans.'

MORE >>