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 access to a defined benefit pension.
Most public employees pay into a defined benefit pension system. Workers contribute a portion of every paycheck—similar to how virtually all working Americans pay a portion of each paycheck into Social Security—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 nurses, firefighters, teachers and librarians can count on upon their retirement.