March 06, 2015

AFSCME: Poll Shows “Tsunami of a Retirement Crisis” due to 401(k) Schemes

AFSCME President Lee Saunders spoke out Wednesday regarding a new poll by the National Institute on Retirement Security (NIRS). The poll found that 86 percent of respondents believe there is a retirement crisis in America, 85 percent believe all Americans should have access to a pension and 67 percent would be willing to accept smaller pay increases in exchange for guaranteed retirement income.

“Our nation is facing a tsunami of a retirement crisis and the American people can see it coming,” said Mr. Saunders. “It’s no accident that as Wall Street-backed politicians double down on their attacks on pensions, Americans’ fears about retirement security are higher than ever. For workers and families, the best path to economic peace of mind and a secure retirement has always been through a union.”

Mr. Saunders also said that recent decades have seen Wall Street brokers line their pockets with the crumbling 401(k)s workers thought they could count on in their golden years, while middle-class Americans retire into poverty in skyrocketing numbers. More at

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