Senator Barack Obama hosted a roundtable discussion today with local Las Vegas residents about the increasing challenges of saving for retirement and his plans to strengthen retirement security, which include protecting social security, reforming bankruptcy laws to protect pensions, and providing incentives to increase personal savings so all Americans can retire with dignity.
“It starts with protecting Social Security. Over 230,000 Nevadans receive Social Security, and the program helps keep over 40 percent of Nevada’s seniors out of poverty. Because Social Security is so important in the lives of so many Americans, we have to make sure Social Security is there for future generations.”
Obama’s plan will also create automatic workplace pensions to make it easier for the 75 million Americans without employer-based retirement plans to save, as well as ensure private companies properly fund their pension plans and reform bankruptcy laws.
“Today, even if you work hard and play by the rules, you risk losing everything if your company goes bankrupt. Instead of protecting your pension, our laws protect banks by making it easier for companies to shed their obligations to retired workers. It’s time for that to change.:”
At this afternoon’s roundtable discussion at the Clark County Public Library, Obama sat down with six Nevadans and discussed with them the hardships they face as they struggle to save for retirement.
“Making these changes won’t be easy. We’ll have to take on the special interests. We’ll have to be straight with the American people. And we’ll have to fight for a secure retirement for working people when the fight gets hard – and that’s precisely what I’ll do. Because retirement security for all Americans is worth fighting for.”