I can only share what TheHusbandHalf told me:
Every year the company, an international oil company, has to report to the government about their pension. They have to have a certain percent, and he said they have always had more.
If a company has less, the amount they pay in lump sums, or other methods they have, is less.
He said the pension is handled by Fidelity, so the chance of someone getting in and taking it, fraudulently, is close to 'low.' To see the amount in the pension is pretty easy for us. He has an account, with a button he clicks that goes to 'pension.' There must be a dozen different ways he can choose, for the way it is paid. All we do is fill in the dates and the percents, and it shows the amount paid and when.
He really watches things like this, but I do not know where he gets the info about the government requirements being met.
His pension is something he doesn't contribute to, like he does his 401k.
A few months ago my cousin's pension check was cut by a third, but I think it was at least partly through his union. He's in his late 60's.
If we put in retire Jan '19, the lump sum is 470,000. He said he's been working there 26 years and only 2 people have not taken the lump sum.
Monthly, the payments stopping when he dies, is now about 2900/month. With 100% still coming to me, it's 2399/month.