http://money.cnn.com/2006/01/13/news/economy/pension_fortune/index.htm?cnn=yes


"But eventually actual dollars must be paid out, a prospect that has seriously spooked private employers. Just this month IBM (Research) announced that it would join the long list of companies (Verizon, Hewlett-Packard, Motorola) that have frozen their pension plans, instead increasing 401(k) contributions for employees. And the 18-month negotiation between UPS and its pilots has come down to just two points: whether outsourced pilots overseas must be union members, and (you guessed it) pensions"

The U.S will always handle such issues the same way it handles all others. Either it will borrow , there IS a sucker born every minute OR it will invade. There is a third option too , it could just print money.

The same problem exists in Canada although it's not so big. CPP is MUCH better managed and the majority of the population is not covered by a DB pension. Canada is also resource rich. They will have oil money to throw at any deficit in the plan. (Can you imagine what oil will cost in 2020?)