Convention Resolution
Resolution 5: Achieving Retirement Security for Working Families
… and ballot initiatives to replace them with definedcontribution plans, to increase employee contributions and to reduce benefits and COLAs for participants. For public employees who do not participate in Social Security, maintaining … benefit is just slightly above a minimum wage income. Indeed, the income replacement rate of today’s Social Security benefits is lower than that of most other OECD countries, and growing Medicare costsharing obligations mean seniors will need … of Social Security. Today, this system is on solid financial ground and provides benefits to 600,000 retirees, spouses and survivor and disability annuitants. Attempts to weaken or dismantle this system that has worked for more than 60 years must …