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Public Employee
Press
The World of Work
Better pensions
Seventy-three percent of union workers have access to traditional pension
plans while only 16 percent of non-union workers do, according to 2005
figures.
And while union workers typically have such defined-benefit pensions
federally insured plans that guarantee a monthly payment based on years
of service and salary employees who dont enjoy union representation
are typically covered by 401(k) plans, which dont offer a guaranteed
income and require individuals to manage their own accounts, provided
that theyre offered retirement coverage at all.
Increasingly, employers are freezing and phasing out traditional plans.
About 90 percent of public employees are covered by traditional pensions.
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