Why Pensions Matter

For Immediate Release 

Contact: Andrew Collier, acollier@protectpensions.org
March 29, 2017          
Why Pensions Matter Report Reveals Need for Pensions across the United States

COLUMBIA, SC - This week, the National Public Pension Coalition released a new report titled Why Pensions Matter, a comprehensive examination of the origins and importance of public pensions. The report examines how public pensions have developed over time, as well as the ways in which pensions help to combat a growing retirement crisis throughout the United States. This report emphasizes that the need for public pensions is not new, and, in fact, dates back to the New Deal era as states sought out ways to provide a secure retirement for their public employees. Today, hardworking public employees must be afforded the same benefits.

According to Bailey Childers, Executive Director of the National Public Pension Coalition:

“All Americans should be able to retire financially stable  and pensions are the best way to do that.  Unfortunately, pensions have come under attack from special interests across the country, including in South Carolina.  Lawmakers have pushed to close South Carolina’s pensions and move public employees into a risky, 401(k)-style system. This move threatens the retirement security of our teachers, firefighters, nurses, and other public employees.  The history of pensions should remind us why pensions are valuable and why we should keep them.” 

Bernadette Hampton, president of The South Carolina Education Association, said of the report:

“In outlining the origins and benefits of public pensions, this report emphasizes the necessity of pensions in today’s economy, especially here in South Carolina. Public servants who have dedicated years of their lives to serving our communities should not be losing sleep over retirement security. Pensions are the secure and sensible way to keep our hardworking teachers from financial ruin when they can no longer work. The history of pensions is largely understudied, and as a result, largely misunderstood. This report reveals the reasons why South Carolina lawmakers should value public pensions and reject unnecessary and harmful changes to our system.”

To read the Why Pensions Matter report, click here or visit https://protectpensions.org/files/2017/03/NPPC-Why-Pensions-Matter-FINAL.pdf

For more information on the report, please contact Andrew Collier at acollier@protectpensions.org

More about Public Pensions in South Carolina

Skot Garrick
Communications Director
The South Carolina Education Association
(803) 551-4154