Pensions and other Retirement Benefits

SEIU, Coalition Partners Launch Retirement USA Initiative

Initiative will work to establish principles for a visionary retirement income system

SEIU partnered with The Economic Policy Institute (EPI), the National Committee to Preserve Social Security and Medicare and the Pensions Rights Center to launch Retirement USA, an initiative working for a new retirement system that, along with Social Security, will provide universal, secure, and adequate income for future retirees.

Why do we need the Retirement USA Initiative? Because the system we have now has failed most Americans.

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SEIU 503 members work to protect retirement benefits

SEIU members in Oregon are actively working to protect retirement benefits for all workers. SEIU Local 503 President Linda Burgin recently testified in front of the Oregon Investment Council, which is responsible for investing all State of Oregon funds, including the Oregon Public Employees Retirement Fund. Linda asked the OIC several questions about how they plan to ensure retirement security for workers in the current economic crisis; specifically how they plan to improve communication, hold investment managers accountable, prioritize flexibility and risk prevention, and ensure that OIC investments contribute to a sustainable, healthy economy.

"People throughout the country, including our members and workers across Oregon, are facing layoffs, furloughs, and foreclosures. 401Ks and personal savings have been decimated and critical services are suffering. Investors, including the OIC, have lost several trillion dollars of wealth. In the face of this situation, we are here today on behalf of our members and people in our home communities to open a dialogue with the Council about how you are planning to adjust your investment approach given these unprecedented circumstances."

 Read full transcript of testimony

Specific information about your retirement benefits is available in your union contract. Public employees covered by PERS can get more information from the Oregon State PERS website.

Read a recent statement from the State of Oregon Public Employee Retirement System about the PERS plan's funding status [posted 3/30/09]