Current Issues

After a life of hard work, people deserve a secure retirement. But some politicians are talking about privatizing Social Security or dismantling it completely. Others are stalling needed pension reform that would protect working families from Enron-style abuses. Americans need a plan for retirement security, not candidates who leave workers on their own to save for retirement, and hang Americans out to dry.

The same way that employers are shifting cost and responsibility for health care on to employees, more and more companies are moving from traditional pensions to 401(k) plans. Pensions are guaranteed by the government and guarantee a defined benefit in retirement. Private plans depend on the ups and downs of the stock market. While pensions were meant that retirees could count on a defined monthly income, today’s 401 (k) plans mean just one thing’s for sure – there’s no guarantee of retirement security.

Anti-working Family Candidate Claim

THE TRUTH

Saving wisely, and investing in personal retirement accounts like 401(k) plans is enough.

Today, nearly two-thirds of retirees count on the defined benefits of Social Security for most of their retirement incomes. Experts say that between 65% and 85% of Americans are not saving enough for retirement. Many Americans haven’t taken any action – like speaking with financial planner- to secure retirement on their own. Millions are trusting their retirement to the ups and downs of the market.