Only 9% of Americans currently have pensions, down from 44% in 1975. Senator Bernie Sanders proposed the Pensions for All Act to address the retirement crisis. This legislation would compel corporations to provide retirement plans equivalent to those offered to Congress members. Sanders emphasized the necessity of guaranteed monthly income in retirement for all workers. He criticized the disparity in retirement account contributions, noting that Congress's retirement benefits significantly surpass those available to most employees, contributing to increasing inequality in retirement savings.
If we are serious about addressing the retirement crisis in America, corporations must be required to offer all of their workers a traditional pension plan that guarantees a monthly income in retirement.
If we can guarantee a defined benefit pension plan for members of Congress, we can and we must provide that same level of retirement security to every worker in America.
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