The fight for decent pensions

Karen Friedman of the Pension Rights Center testifies in favor of HB 5337.

The three-legged stool that makes for an adequate retirement -- Social Security, a pension and savings -- is being destroyed as elected officials, corporations and wealthy zealots continue their push to decimate this all important benefit.

Council 4 is working hard to change the dialogue by protecting and expanding retirement security.

Earlier this year, Gov. Malloy increased by more than $100 million the state's annual required contribution to the state employee pension fund -- a smart move designed to offset years of neglect by Republican governors. The state union coalition unanimously approved the proposal.

Council 4 is also advocating for a system that brings retirement security to all workers.

Both the Labor Committee and the Aging Committee have reported out bills that would create a task force to study how the state can administer a universal defined-benefit plan that guarantees adequate retirement income.

"This legislation brings us one step closer to rebuilding the middle class in Connecticut," said Council 4 Executive Director Sal Luciano in his testimony.

Heather Dean of Fairfield, who along with her husband Jeff runs a child care center, also testified in support of the pension legislation.

"The advantage of a public retirement plan is that it gives us and our family needed retirement security," Dean said. "Moreover, it will allow us to offer equal benefits as many larger corporations do and help retain dedicated staff, to thank them for their loyalty."

Click here for a 1-page fact sheet on our campaign to expand retirement security and scroll down to Additional Resources for more information on pensions,including our new report on pensions.