With the money crunch we are seeing now I am just wondering if people who have been receiving pensions from the companies they spent their careers working for will continue to receive those pensions or are those funds drying up too? Is there anything the individual can do to rescue their money? I am not in this situation, myself, but I have friends and wonder what will happen to them. They are asking me so they don't know either.

If people are receiving payments from a defined benefit plan, most likely those payments will continue. All such plans are under the oversight and protection of ERISA. This law requires that minimum funding be maintained for future obligations. It also provides for insurance of the plans under the PBGC.

However, money held in defined contribution plans, like 401Ks, IRAs, etc will see the value of those accounts diminsh.

Thank you. I will relay this message to my friends.

Thanks for taking the time to answer.