WHEREAS:
Most public pension plans are relatively well-funded although our plans, like all investments, suffered losses in the financial meltdown and those losses will continue to affect plans for the next several years; and
 
WHEREAS:
In addition, where there are funding problems, they are because many employers did not faithfully make their contributions to our plans while AFSCME members made their required contributions year in and year out; and 

WHEREAS:
Employee contributions and earnings from investments typically account for three-fourths of public sector pension plan revenues, with contributions from employers making up the remaining one-fourth; and 

WHEREAS:
The National Institute on Retirement Security reports that the poverty rate among older households without defined benefit pension income is about six times greater than the rate among older households with defined benefit pension income; and

WHEREAS:
State and local retirement systems play a large role in our nation’s economy, holding over $2 trillion in the form of ‘patient capital,’ and during the market downturn in 2008, the long-term investments of those systems served as a stabilizing force; and

WHEREAS:
Dedicated employees should not have their retirement security jeopardized while the greedy Wall Street firms that caused the recession are bailed out by taxpayers.

THEREFORE BE IT RESOLVED:
That AFSCME reaffirm its support of traditional defined benefit pension plans for all workers; and

BE IT FURTHER RESOLVED:
That AFSCME continue its work to provide greater retirement security for all Americans; and

BE IT FURTHER RESOLVED:
That AFSCME proactively and aggressively defend our members’ pensions by making sure that politicians and the media know the facts about our plans, by advancing proposals to shore up our funds’ finances while protecting benefits where feasible, by working with coalitions when practical and by engaging members in campaigns to protect defined benefit pension plans; and
 
BE IT FINALLY RESOLVED:
That AFSCME continue to combat efforts to undermine our members’ retirement security and provide educational materials and technical support to affiliates on this issue.
 
 
SUBMITTED BY: 
Todd Singer, President and Delegate
Jane Beveridge, Secretary and Delegate
AFSCME Council 13
Pennsylvania