<prompt> Human: My father has worked in the steel industry in Ohio for almost 40 years. As a union member, he has earned a pension based on his years of service and earnings. Hes been talking about retirement for a few years and had most recently planned to do so at the end of this year, but as there have been IMO, well-founded rumors of his company being bought out, he is afraid that in the event of a buyout, he could lose his vested benefits and be without income.My dad has worked harder than anyone Ive ever known, and has always worked swing-shift, so has never had a regular sleep cycle. Were both well aware that this affects his life expectancy, so I would really like him to take his well-deserved retirement and get on a healthier sleep schedule as soon as possible. But every time he gets close to retiring, he chickens out due to the stress and risk of losing his regular income.His plan does not offer a lump-sum payout of benefits upon retirement, so I couldnt help him invest it to create a similar income stream to a pension annuity. My Question is this:How well-founded are his fears of losing his pension? The company is healthy now, but could new ownership default on the obligation to retirees once a deal is made? Hes given his whole life to earn that money. The rage I would feel if it was robbed from him is unspeakable. Thanks for your input.  <response>: Commonly, raids on pension funds are done in bankruptcy court. Typically the union contract is also trashed as well.However, there isnt actually anything your dad could do to stop it. He will either get a kiss first or he wont. 