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Delphi CEO Says Traditional Pensions Are Anachronisms that Corporations Must Fix in Order to Survive
Time Online EditionLink to more items from this source
Oct. 19, 2005

Excerpt: [T]he fundamental problem is the whole concept of a defined benefit program. It has been exacerbated by our aging population. Defined benefit was created in an era when people worked till 65 and died at 70. There were so many active workers compared to the number of people on retirement that it was just not an issue. But that has reversed.

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