Pension, yeah great, just ask the guys at Enron how great a pension is. Or how about the folks at United and Delta; notice how many pilots have taken early retirement in order to get their money before it's gone.
Give me a 401k plan like Jet Blue any time, the money belongs to me, not the company!
Also Jet Blue's profit sharing has averaged 15% of annual pay, not bad, not to mention their Pilot's aren't worrying about bankruptcy, furloughs etc.