Committing to Retirement Security for All

WHEREAS, the prospects for a decent retirement for most Americans is shrinking, including many working families that are not saving at all and are woefully unprepared for retirement; and

WHEREAS, it is time for our country to commit to moving from retirement security for just a lucky few to retirement security for all; and

WHEREAS, many Americans lack access to a retirement savings plan through an employer; and

WHEREAS, there has been a shift over the last several decades from defined-benefit plans to defined-contribution 401(k)-style plans; and

WHEREAS high-income families are 10 times as likely to have retirement savings as low-income families, and high-income families own a greater share of retirement savings than they do of earned income; and

WHEREAS, the reality is that retirement prospects have worsened for many working families since the Great Recession;

THEREFORE, BE IT RESOLVED, that the American Federation of School Administrators joins the AFL-CIO and its allies in advocating for the protection of pensions wherever possible, and the protection and strengthening of Social Security benefits so that all workers may retire with the respect and dignity they have earned.