Retirement Security

We are the Service Employees International Union,
an organization of more than 2 million members
united by the belief in the dignity and worth of
workers and the services they provide and dedicated
to improving the lives of workers and their families 
and creating a more just and humane society.

- SEIU mission statement

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The economic crisis -- and the Wall Street excesses and corporate abuses that drove it -- has put a secure retirement at risk for everyone. Instead of cutting pensions for public employees and force more retirees into poverty, we're working together to help deliver retirement security to more people.

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The term “public pensions” is often used to describe the traditional defined benefit (DB) pension plans that help deliver retirement security to millions of public sector workers. Unlike 401(k) style defined contribution plans, DB plans provide workers with modest, guaranteed benefits.

Public pension investments also play a vital role in stimulating the US economy and creating jobs. Public pensions have been under pressure in the wake of the recent economic downturn. However, SEIU and our sector union partners are committed to ensuring public pensions are protected, strong and sustainable for current workers and future generations.

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Fact Check: Learn the Truth About Retirement Security

Fact 1: Today, more than 70 million American workers do not have any type of employer-sponsored retirement plan.