We are in the midst of a perfect storm of attacks on worker pensions. Private-sector pensions are underfunded by $450 billion, public-employee pensions by $300 billion. The federal insurance plan for private-sector pensions, the Pension Benefit Guarantee Corporation, is itself more than $30 billion in the hole. Whole industries like auto, airlines, and steel have been going into bankruptcies largely as a ploy to emerge without “non-competitive legacy costs” like good pensions.

Non-union companies have stopped offering pensions for new workers, and frozen existing workers’ pensions and turned them into no-guarantee investments like 401(k)s. Contrary to corporate propaganda, 401(k)s cannot replace guaranteed pensions.

The New York Times noted that “half of the people with 401(k)s have saved less than $20,000; and about one-third of households have saved nothing for retirement.” (2/5/06)

The message from the ruling class is loud and clear: “work ‘til you drop dead.”

Unfortunately, the union leaders have proven themselves completely incapable of organizing effective resistance to these attacks on rank-and-file workers and retirees. Historically, the strategy of mass solidarity and militant class struggle is what won pensions for workers. The need to return to that kind of program and strategy is as pressing as ever, and the mood for struggle is growing.

But why are we being forced to fight a battle our forebears won long ago? Capitalism will never escape the tendency to maximize profits at the expense of everything else. No reforms won by workers are secure for long. Success for the capitalists will always mean defeat for the working class, and vice-versa.

We will continue fighting old battles until working people take over society’s resources and run them democratically, sounding the death knell of capitalism.