GM private sector pension got public bailout

http://www.theglobeandmail.com/report-on-business/gm-still-facing-huge-pension-shortfall/article2345677/

General Motors of Canada Ltd. still faces a massive shortfall in its unionized pension plan despite a $3.2-billion contribution taxpayers made to the fund when the auto maker’s parent company went into bankruptcy protection in 2009.

The shortfall stood at $2.2-billion as of Sept. 1, 2010 (the latest data available), which is a vast improvement on the $5.1-billion deficiency in the plan before the special payment was made. But it is still a significant amount for a plan that covers more than 30,000 retirees.

The GM Canada plan stands out in part because it was the looming crisis of the $5.1-billion shortfall that company executives pointed to in 2008 when they sought a bailout from the federal and Ontario governments.

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D - the article ignores the special sweetheart deal a few huge companies got, in terms of having lowered demands for setting aside savings for pension plans.
This was joint corporate- gov't boondoggle. Now taxpayers are footing a multi BILLION dollar bill. Go team.

Aside -The Swedish leader just suggested a retirement age of -wait for it - 75!