Executive Council Statement
Ensuring Retirement Security for America's Workers
… their pension obligations with hardly a look back and workers who lose pensions are unable to pursue a claim for those benefits in court. A buyer looking for assets in bankruptcy knows that employee obligations can be shed with relative ease … dollars. Moreover, individual savings plans, like 401(k) plans and IRAs, as they exist today, cannot offer all the benefits of real pensions. Well-designed defined benefit pension plans provide benefits for all covered workers, provide lifetime retirement income, deliver valuable survivor and disability protections, and may offer important early retirement benefits and post-retirement benefit …