This is all smoke and no fire. The article's subject complains about his account value falling from $280k to $110k in value, meanwhile his pension has a net present value in the millions. I'm surprised this made it by the WSJ editors.

    Roughly $140 billion in GE stock-market wealth was lost in the past year

GE has lost a substantial percent of its market cap this year. I wouldn't count on that pension sticking around for 30 years without being 'restructured'.

And in 30 years it'll be worth $40k a year anyway.

No kidding, at a 4% safe withdrawal rate, that's the same as a $2+ million nest egg.

That said, I think he's concerned that, given GE's trajectory, the pension will evaporate. What then?

making the assumption the pension sticks around through the next recession..

look at those who had a GM pension...