Late last year, congressional representatives snuck an amendment into the omnibus spending bill which will allow severe cuts to the pensions of hundreds of thousands of retirees in certain underfunded multiemployer pension plans. This was an unprecedented set-back to retirement security.
There have been other recent attacks on retirees. In the first four months of 2015, lawmakers have proposed cuts to Social Security insurance benefits for millions of children, veterans and disabled workers. And, just last month, the House and Senate passed budgets which could drastically cut Medicare and Medicaid benefits for millions of seniors and low-income individuals.
Stand with the Pension Rights Center and the Medicare Rights Center in telling members of Congress that instead of cutting the hard-earned retirement benefits of millions of Americans, we should be working to protect and expand retiree benefits.
Some in Washington and on Wall Street are making unfounded claims that our retirement programs are “bankrupt” or “insolvent” even though Social Security has a $2.8 trillion surplus and the life of the Medicare trust fund was recently extended by 13 years.
At a time when America has a $7.7 trillion retirement savings gap, meaning that American workers will have a lower standard of living in retirement than their parents, Congress should be expanding, not cutting the benefits of older Americans.
Stand with the Pension Rights Center and the Medicare Rights Center in telling the 114th Congress to protect and expand Americans’ retirement benefits.
Sadly, the last minute amendment to the omnibus spending bill, as well as the House and Senate budgets, continue a trend of shifting costs to retirees who are in no position to foot the bill while giving tax breaks to the very wealthy and large corporations.
We can’t allow back room deals, written in the dead of night, to set a precedent for the future of retiree protections and benefits.
Tell Congress to stand with retirees and people with disabilities. It is time to protect and expand Americans’ retirement benefits, not cut them.
Thank you for your efforts on behalf of current and future retirees.
Executive Vice President, Pension Rights Center