2006 Resolution - 005

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SUBJECT: Resolution on Retirement Security

Introduced by: The E&GW Commission of the Minnesota Nurses Association

Action: Passed Unanimously 3/16/06

WHEREAS, retirement security is an issue of a paramount importance to all Americans; and

WHEREAS, defined benefit pension plans have been a vital part of many Americans’ retirement, covering more than 20% of current American workers and even more retired workers; and

WHEREAS, many of these current workers are less than 20 years from retirement; and

WHEREAS, many corporations have transferred their pension obligations to the Pension Benefit Guarantee Insurance Corporation (PBGIC) where workers’ retirement benefits may be cut, and these transfers have seriously depleted PBGIC funding; and

WHEREAS, current trends of freezing, transferring, or eliminating defined benefit plans hurt workers when they are counting on these plans the most in violation of corporate promises; and

WHEREAS, some current congressional pension proposals may only accelerate the demise of defined benefit pension plans to the detriment of millions of Americans;

NOW THEREFORE BE IT RESOLVED,that the UAN encourage employers to maintain and favorably fund their defined benefit pension plans; and

BE IT FURTHER RESOLVED, that the UAN lobby Congress to take steps that strengthen our pension system and that do not encourage or reward employers to freeze or eliminate their defined benefit pensions plans, transferring these pension plans to PBGIC improperly; and

BE IT FURTHER RESOLVED, that the UAN support candidates who endorse UAN’s position on pensions; and

BE IT FURTHER RESOLVED, that the UAN develop and disseminate to its membership educational material concerning the issue of retirement security, including information about the various plans and their implications, and the value of traditional defined benefit plans.