“Working men and women and the middle class are the engines that drive our economy. But a secure retirement has become unattainable for many.
The decline in retirement security is the result of many causes. The decimation of private-sector pensions, the stagnation of real wages and corporate cutbacks have all contributed to Pennsylvanians retiring with an uncertain future.
Nearly one-third of American households have nothing at all saved for retirement and the other two-thirds have inadequate savings. Pennsylvanians need a bold plan, a secure plan and a commonsense plan that puts working people and families first.
Right now, the legislature has an opportunity to address the unavailability of decent retirement savings vehicles for today’s working men and women. We can work in a bipartisan manner this year to help the 2.1 million Pennsylvanians who have been identified as being among the 40% of private-sector workers who do not have access to an employer-based plan.”