Pensions: Foundation for a Secure Retirement

In addition to fair wages, reasonable benefits and safe working conditions, every American who works hard and plays by the rules should have access to a secure and dignified retirement. The best standard for a secure retirement includes Social Security, personal savings and a defined benefit pension. Similar to Americans paying a portion of each paycheck into Social Security, workers contribute a portion of every paycheck to fund a pension system. Combined with the employer contributions, the pension system invests the funds and uses the returns to pay a defined amount of money each month that workers can count on in retirement.

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