Sanders Proposes 'Pensions for All' as Trump Aims to Open 401(k)s to Private Equity Vultures
"We can no longer tolerate a rigged retirement system that allows the CEOs of large corporations to receive massive golden parachutes for themselves, while denying workers a pension after a lifetime of work," said Sen. Bernie Sanders.
U.S. Sen. Bernie Sanders introduced legislation Thursday aimed at addressing the nation's retirement security crisis as President Donald Trump reportedly prepared an executive order that would give private equity vultures easier access to the 401(k) plans that have overtaken traditional pensions.
Sanders' (I-Vt.) Pensions for All Act would require big corporations to either provide their workers with a pension plan that is at least as generous as the one enjoyed by members of Congress or "pay into the federal retirement system at a level that ensures all of their workers receive the same amount of retirement benefits" as lawmakers.
The senator characterized the new bill as a supplement to his proposal to expand Social Security benefits.
Sanders Proposes 'Pensions for All' as Trump Aims to Open 401(k)s to Private Equity Vultures | Common Dreams
