Sal Luciano is Executive Director of Council 4, a union representing 32,000 workers.
Once upon a time, there was retirement security . . .
If that sounds like the opening of a fairy tale, it’s not. More and more, it’s the story a new generation of workers is telling their children about a time when a majority of Americans had retirement pensions.
The fairy tale is, however, becoming a nightmare. In cities and states across the nation, corporate-backed politicians have stepped up efforts to usher in a new era of uncertainty for working class folks — and big profits for Wall Street — by doing away with real pensions and replacing them with risky “defined-contribution” savings plans, like 401(k)s.
To which I say: buyer beware.
Read the full story at CT News Junkie.