Americans need a Secure and Dignified Retirement!

With RECORD Corporate Profits, why is it that Corporations are getting rid of their defined-benefit retirement plans and replacing them with 401(K) plans. These 401(K) plans typically provide much less income than a pension, shift all of the risk to the worker and often do not include an employer contribution. Worst of all, half of all workers have no retirement security plan other than Social Security. Why not offer the 401(K) plans IN ADDITION to the MORE SECURE defined-benefit retirement plans? One answer; CORPORATE GREED.
With the politicians helping the Corporations "Stick-it" to the employee.
At retirement, no one should have to face the prospect of working forever to keep their head above water or face a dramatic decline in income that jeopardizes their financial security.
Defined-benefit pensions, guarantees retirees with a steady income for life on top of Social
Security.

Here is what should be done to Guarantee a Safe and Dignified Retirement.

• Ensure a Guaranteed Income: All retirees should be guaranteed at least 70% of their pre-retirement income for life, depending on the person’s household unit, income history and gender. This minimum amount, which is recommended by retirement experts, would include all sources of retirement income, including Social Security benefits.
  
• Preserve and Strengthen Existing Private and Public-sector Guaranteed Pension Plans: About 20 percent of workers have employer-provided pension plans known as defined-benefit plans, which close the gap between the amount Social Security provides and what a retiree needs to live. By providing a guaranteed income, these plans are far superior to 401(k) plans; they should be preserved and strengthened. In the private sector, despite five years of record corporate profits too many pension plans are still under funded and many have been eliminated. The federal government needs to hold corporations accountable to the promises they’ve made to their workers. In the public sector, we oppose efforts to convert pension funds to 401(k)-like plans.
  
• Guarantee all Workers a Secure Retirement: All workers without a guaranteed pension need to have one to close the gap between how much a retiree needs to live and the amount Social Security provides. Retirement plans should be portable and funded by stable employer contributions to ensure workers accumulate the benefits they need without creating uncertainty for employers. Investments should be pooled to reduce the costs of professional management, and workers should have a voice in plan governance to ensure accountability.

It is immoral when Corporations who are making $$ hand over fist just "throw away" their older workers at Retirement.

This is not a Republican or Democrat argument. It should be an American Principle.

Jimbo