Public retirement systems should establish a maximum vesting period of five years for DB plans and one year for employers’ matching contributions to defined contribution or hybrid plans.
States and localities should move toward full funding of their retirement systems.
Federal and state laws should prohibit maximum hiring ages and mandatory retirement ages for all workers. This should include public-safety employees.
Businesses that bid on federal, state, and local contracts should be required to report any complaints and determinations of unlawful and unfair practices.
Income earned through employment is the foundation of most people’s savings and retirement income.
Americans’ retirement income comes from several sources. For most, Social Security income is the foundation of financial security in retirement.
Government workers should continue to have access to defined benefit (DB) plans.
Modifications to retirement plans or plan formulas should hold harmless current beneficiaries and employees. They should also ensure the retirement security needs of future retirees.
A variety of government policies and employer practices safeguard the rights of workers to fair treatment, safety in the workplace, and a measure of financial security.
All levels of government have developed standards and guidance to ensure fair employment practices. They address wages, working conditions, and other aspects of work.