Other companies that lay off workers will have time lags associated with finding personnel, training replacement workers, etc.
Brackett says the replacement workers are nearly all single men.
The company hired replacement workers on Saturday to fill in for the strikers, who belong to the Aircraft Mechanics Fraternal Association (AMFA), unveiling a backup plan it had quietly drafted 18 months ago.
Britain's Pensions Commission has used a net replacement rate of 80% for workers on average incomes as a rough guide to whether they will have enough to live on in retirement.
People who worked for the state, in state-owned companies or in state-approved collectives, enjoyed cradle-to-grave benefits ranging from housing, education and health care to a generous pension scheme, with an official retirement age of 55 for men and 50 for women for manual workers (but five years more for white-collar workers) and a replacement rate of about 80% of final salary.
For all developed countries, high life expectancy is also associated with below-replacement fertility, which reduces the ratio of workers to retirees.
FORBES: Healthcare Sector is a Natural Hedge for Pension Funds
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The 401(k) plan accelerated in 1986, when Congress passed legislation permitting the replacement of the defined-benefit plan offered to government workers with a less attractive defined-benefit plan and an attractive defined-contribution plan.
This is most likely to occur in places where there have been major reorganizations or layoffs, and new employees are seen as a threat to veteran workers or a lower-cost, lower-caliber replacement for a beloved former colleague.
The obligation to retirees is skyrocketing due to lengthening lifespan, and the number of workers contributing into such funds is declining due to below-replacement fertility rates.
FORBES: Healthcare Sector is a Natural Hedge for Pension Funds
The Labour government has made much of its pension changes: in particular the introduction of stakeholder pensions and the replacement of the earnings-related state second pension with a more expensive scheme aimed at poorer workers.
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