Lots of controversy at my work right now, as they're cutting the retirement plan (pension) of the old-timers to be basically in line with what the newer people have. Cuts are to future accruals only.
On the one hand, I feel for them a bit, because they're going to get a 40% or so cut to their future accruals.
On the other hand, that bit I feel bad is really really tiny, because they've been receiving an oversized portion of the company contributions to retirement plans for years. They're now complaining that most of the cuts are going to fall on them...which is true, but the cuts are just bringing them in line with other employees. My mini-pension is being frozen as well, but I'd rather have the defined contribution that's replacing it anyway.
I never once heard any of them standing up for us, trying to increase our benefit levels, but now they're whining about how they're the heart and soul of the company, and that they're being betrayed. "I never planned to have to contribute anything to my retirement, and now I'll never make up the gap with a 401(k)."
Other complaints:
"To receive the full match, people will have to contribute up to 5% (tax deferred) to their salary. Not everyone can do that." This is an engineering company. Everyone can pay 5%. They choose not to, but need facepunches.
What really grinds my gears is when they are volunteering to eliminate our (meager) raises year after year to fund the pension. Not only does their pension only benefit 25+ year employees, but raises primarily benefit the younger cohort. Double whammy on the theoretical future of the company. Keep it up, and they won't be the future of the company for very long.