BIDEN REAFFIRMS COMMITMENT TO SENIORS
Pledges To Enhance Retirement Security
Davenport, IA (September 20, 2007) – Tonight at the AARP candidate forum in Davenport, Sen. Joe Biden pledged to keep our nation's promise to seniors and reaffirmed his commitment to the economic security of hard-working Americans and their families.
"From protecting pensions to strengthening social security and providing affordable health care, we must keep our promises to America's seniors," said Sen. Biden. "Americans who work hard all their lives should not live with the fear that their retirements are in jeopardy or that their economic security hangs in the balance. We owe it to our parents and grandparents, as well as ourselves and our children, to make sure that Americans can retire with dignity."
Earlier this week, Sen. Biden unveiled his retirement security plan. Sen. Biden proposed to crack down on executives who get bonuses while companies walk away from employee pensions, require employers that don't provide retirement plans to allow employees to make direct deductions into Individual Retirement Accounts and make it easier to take retirement plans with you by automatically rolling over 401 (k) plans. To begin the process of saving earlier in one's life, as President, Sen. Biden would invest $500 in a Kid's Account for every American child born after December 31, 2008. He also reaffirmed his commitment to protect Social Security, not privatize it. Sen. Biden is also in favor of fixing the Medicare Prescription Drug Plan (Medicare Part D) by letting the federal government negotiate cheaper drug prices and closing the so-called donut hole – the gap in benefits that occurs once you've hit $2,250 in coverage.
