（二）Without a doubt, the past few months have ranked as the most tumultuous -- and scariest -- times that I’ve seen in the
more than 20 years I’ve been at Money magazine. We’ve witnessed events that up to now had been almost unimaginable:
the stock market fluctuating wildly and governments around the globe taking extraordinary steps to unlock frozen credit
markets. And it’s still unclear when the economy and the markets will hit bottom.
Given the unprecedented level of fear and uncertainty, it’s no surprise that readers of my Long View column in
Money and my Ask the Expert column on CNNMoney.com have inundated me with retirement planning questions.
The following is an example.
Q. Does the crisis have any effect on my defined-benefit pension plan? I just turned 55 and was getting ready to start
drawing from it. --Lynn, Hephzibah, Ga.
A. The fact that the stock market is reeling doesn’t mean your employer can slash your pension or take it away from
you. With a traditional defined-benefit pension, the size of your check is based on the number of years you worked
and your salary. Once you’re vested, your employer must pay you the pension you’ve earned.
Of course, since pension managers generally invest about 65% of their assets in stocks, plummeting prices have
put a strain on the funds employers are counting on to pay retirees. But that doesn’t mean promised benefits are in
peril. Pensions are paid over decades. There’s plenty of time for assets to bounce back.
Besides, even if your company were to go bankrupt, you would likely collect all or most of your pension. The
federal Pension Benefit Guaranty Corporation would step in and cover your pension, up to certain limits. For a
65-year-old, the PBGC’s maximum payment for plans ended in 2008 is $51,750 a year (for more, go to pbgc.gov).
【題組】46. The author is a _______________.
(A)government employee
(B) famous banker
(C)columnist of a magazine
(D) professor of economy
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