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UMWA Supports Harkin Retirement Security Initiative

July 27, 2012
For immediate release?: 

[TRIANGLE, VA] United Mine Workers of America International President Cecil E. Roberts issued the following statement today:

"Too many Americans today face the prospect of an insecure retirement, mired in poverty and dependent on a Social Security system that is not designed to provide enough to sustain senior citizens as they live out increasingly longer lives. The longer our nation allows this problem to fester, the worse it will get and the more it will cost us all in the long run. The time to act is now.

"The proposal of Sen. Tom Harkin (D- Ia.) and the Senate Committee on Health, Education, Labor and Pensions will help tremendously in overcoming this problem. The concept of the USA Retirement Fund is a good one, in that it is funded by the beneficiaries themselves, will provide universal coverage at no cost to employers and does not carry the risks associated with market-based retiree savings accounts like 401(k) plans.

"For the growing number of Americans who do not have access to traditional defined-benefit pension plans, this program would provide a strong measure of security in their retirement years, easing the financial burden on their families and our society. Along with the initiative to strengthen Social Security Sen. Harkin proposes, this plan deserves the support of all who care about the health and welfare of our senior citizens."

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