By: Russ Kamp, Managing Director, Ryan ALM, Inc.

October isn’t just for leaf peepers, although it is a special time of year for those of us living in the Northeast. Importantly, October is also National Retirement Security Month. For those of you who regularly follow this blog, you know that we (at Ryan ALM, Inc.) are huge supporters of DB pension plans. Fortunately, we aren’t the only ones. In a wonderful post published by the National Public Pension Coalition, Ariel McConnell writes about the importance of supporting public pension plans, as well as those sponsored by private organizations.

Ms. McConnell highlights many concerns regarding the current state of retirement readiness among American workers. Frighteningly, she points out that 57% of Americans don’t have any retirement savings, and those with 401(k)s have a median balance of only $27,376. That will barely provide you with the financial resources to get you through one year let alone a retirement that could stretch well beyond 20 years. She also highlights how each of us can become more active in the fight to get every American ready for their retirement. We want each worker to have the chance to enjoy their “golden years”. Let’s not let poor policy decisions tarnish that dream.

Please join Ariel, the National Public Pension Coalition, Ryan ALM, Inc., and many more organizations in the fight to protect and preserve defined benefit plans for all. I can only begin to guess at the significant economic and social consequences if our Senior population is forced to live on a median balance as insignificant as the one mentioned in NPPC’s blog post.