America’s pensions are under attack. And it could be getting worse.
Right now conservative members of Congress are preparing to introduce a bill that would allow trustees of “deeply troubled” pension plans to cut benefits for people who have already retired. The bill would give Corporate America and others the green light to further slash retirees’ payouts and reduce already-earned credits for current workers.
This all comes at a time when more than approximately half of American workers have less than $2,000 saved for retirement. Thirty-five percent of Americans over the age of 65 rely almost entirely on Social Security payments alone. And, only 20 percent of American full-time employees have a defined benefit pension plan.
This nation’s pension system is not broken, busted or in need of a radical overhaul that shifts ever more wealth from the nation’s middle class to the top one percent.
Click here to tell your Senators and Representative to vote “NO” on any proposal that cuts America’s pensions.
