Congressman Earl Pomeroy knows that the United States is experiencing a crisis in retirement security.  It's a crisis that affects retirees, older workers and every person who works for a living.  It's a crisis that jeopardizes our economic recovery.  It's a crisis that cannot continue to go unfixed.

Right now, many pension funds don't have enough money long-term to provide the security retirement promised to millions of Americans.  The largest U.S. pension funds had only 79 cents for every dollar owed to current and future retirees at the end of 2008.  Median 401(k) account balances for workers in their fifties were less than $60,000 even before the stock market plunged.

That's why an estimated 40 percent of wage earners recently said they plan to delay retirement.  This means fewer "golden years" for Teamsters nearing retirement.  It also means fewer jobs opening up for Teamsters who are looking for work.

Fortunately, Congressman Pomeroy has a plan to address requests from both unions and employers to stabilize pension plans.  He has introduced the Preserve Benefits and Jobs Act (H.R. 3936), which would provide relief to our nation's defined benefit pension plans. 

This legislation will not pass -- and pensions will remain in jeopardy -- unless you do your part.  Contact your Senators and Representatives at (202) 224-3121 to voice your support for H.R. 3936.  Click below for some help on communicating your concerns about pension protection and retirement security. 

Pension Protection & Retirement Security.pdf