February 11, 1999


We know the most secure retirement belongs to retirees who can count on a pension in addition to Social Security and personal savings. Today, I am proud to announce our Administration's five-part plan to address these challenges, and expand and strengthen our nation's private pension system for a new century.

Vice President Al Gore
February 11, 1999

Today, Vice President Al Gore will announce a package of initiatives in the Administration's fiscal year 2000 budget to continue to enhance Americans' retirements security by increasing access to, and ensuring the security of, retirement income.

The Need For Better Pension Plans. Millions of Americans retire comfortably because they can count on income from three sources: Social Security, individual savings, and employer-provided pensions. Unfortunately, many Americans have little or no pension plan to retire with. Half of all American workers -- more than 50 million people -- have no pension plan at all, and a report shows that as of 1994, only 30 percent of all women aged 65 or older who retired from the private sector received a pension.

The Clinton-Gore Administration Is Committed To Expanding Pension Benefits To All Americans. To help ensure that all Americans have access to income not only from Social Security and savings, but also from pension benefits, the Clinton-Gore Administration's fiscal year 2000 budget will support:

February 1999

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