Secure Choice Pension
Retirement in the United States is in crisis. Many of us can feel the American Dream slipping away. Our ability as a nation to sustain our economy at a time when a record number of workers are entering their retirement years should be an important part of our national debate. Retirement security for all should be a national priority. To accomplish that, we need to propose and develop new and innovative solutions.
First, the facts:
- Until the 1980s pensions were common and workers knew that with Social Security, their own savings including 401(k)s, and a pension, they could retire with dignity.
- Today, there’s somewhere betwee a $4-8 trillion retirement savings deficit.
- Over the next 10 to 15 years, the bulk of the 75 million baby boomers will be of retirement age – giving the U.S. the largest over-65 population in its history.
- For the last 100 years public pensions have proven to be the most cost-effective vehicles for both taxpayers and pensioners to ensure a safe retirement. When properly funded by legislatures and employee contributions, these pensions are a model of how retirement policy can work at the national level.
Why does this matter? We believe retirement security for ALL Americans lies in a partnership between the public and private sectors. What works for some should work for all.