But the good times are fueling the discontent. Those same stock market gains, combined with smaller, downsized workforces that require smaller pension outlays, have created huge pension surpluses at many U.S. companies. GE says that it has given retirees six increases since 1980, including one in April. But Karen Friedman, director of the Fairness Project at the Pension Rights Center, a non-profit advocacy group, says corporations with big pension surpluses shouldn't aim for the lowest common denominator. They should be leading the way.
Companies have good reason to want to hold on to their pension surpluses.
Pension surpluses aren't the only catalyst for the pension movement. Access to the Web has enabled millions of workers and retirees to quickly share information, organize and mobilize. We're firing on all cylinders. Greater awareness of retirement issues. Many workers and retirees say they have gotten involved in the pension movement because they feel betrayed by cuts in benefits.