With all the talk of reforming the pension system, the focus has been on the state level, however there isn’t much discussion on the retirees of these plans. Inside E Street turns to Cristina Martin Firvida, Director for Economic Security for Government Affairs at AARP to talk about the effects of the pension reform on the pensioner. She talks about how many Americans will retire with their 401K and Social Security instead of the traditional pension. What effect would extending retirement age have on plans? Will having employees make larger contributions to the plan help with solvency?
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