Worth noting that most of the CBAs don't allow you to start collecting your pension at 46... you fully vest after 20-30 years, meaning that you're eligible for the max amount when you do start taking out, but you still might not be able to start collecting until 60, 65 etc. (And yes, the retirement age, vesting time, and contribution percentage have all gotten significantly higher over the last several decades, while real wages have decreased, so those currently receiving benefits got a much better deal than those currently paying in.)