We live in the same area and do not see defined benefits pensions for new employees. My kids each work or have worked for fortune 50 companies and neither offer pensions for new hires. My husband’s company stopped in 1995, I think they might have been one of the last.
The other thing that we’ve found is that benefits such as retiree healthcare can be changed at any time. They did for us, they did for my mom. I’m somewhat sympathetic because healthcare costs are very expensive. So what you think you have when retiring or thought you would have, doesn’t mean they will be.
The article was a slice of well paid, long term employees. Who had large pension payments.
As I’ve mentioned, my husband has a pension. We also saved in our 401k so have both income streams. I don’t want to argue about this but our FA has said that since we do have the pension and will have a healthy social security check, that we can draw a bit more from our investments now because our income later will be higher than average.
Our children who do not have pensions but do have good jobs with a good income are saving more than we did at the same age. Because they will need more without the pension. But they are lucky that they can. They will be fine.