This Week in Boomer History: Attica … Oprah … ‘Imagine’

Notable events from our shared experience Pete Rose breaks Ty Cobb’s record for most career hits with his 4,192nd on Sept. 11, 1985. In 1989, Rose, then manager of the Cincinnati Reds, is banned for life from baseball for betting on games — specifically his own team’s. Photographed by Andy Warhol for the cover, John Lennon releases his second solo album, Imagine, on Sept. 9. 1971. Former bandmate George Harrison plays guitar on four tracks. The cut “How Do You Sleep?” is seen …

What Happens to Your Pension When the Company Goes Bust?

Studebaker auto workers found out the hard way in 1963. When the Studebaker Corp. shut down its plant in South Bend, Ind., workers who had been promised pensions saw their hard-earned benefits vanish in an instant. Instead of receiving fixed payments throughout retirement, thousands of employees were forced to take one-time lump sums worth a fraction of what they’d earned. Thousands more received no benefits at all. The Studebaker Corp. had been promising pension benefits to its employees, but in …