Weird Pensions

Michael Mandel

In today's WSJ, there was an article which said in part

Motorola subtracts from a monthly pension payment half the amount of a retiree's monthly Social Security check. This is legal, and about half of companies that pay pensions do it.

????? You know, this is the first I've ever heard of this. Truly weird.

Before it's here, it's on the Bloomberg Terminal.