"Today the Pension Rights Center applauded Senator Tom Harkin, chairman of the Senate Health, Education, Labor, and Pensions Committee, for his new report, The Retirement Crisis and a Plan to Solve It. 'Senator Harkin's bold report identifies the causes of the retirement crisis and proposes imaginative and realistic solutions to the address the crisis,' said Karen Friedman, the Center's executive vice president and policy director.... The Senator's proposal for USA Retirement Funds, a new system of privately-run pension plans, requires that individuals who are not covered by an employer-sponsored retirement plan be automatically enrolled in regulated privately-run retirement funds, in which ... [i]nvestment and life-expectancy risks would be shared by employees and retirees; and [t]he administrative burden on employers would be limited to ensuring that contributions are transmitted to the funds."  MORE >>