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Season 3, Episode 79

More needs to be done to meet the retirement needs of everyday workers

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Tom Buffenbarger

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Tom Buffenbarger, an independent labor voice, joined the America’s Work Force Union Podcast and discussed the Securing a Strong Retirement Act of 2022, and if it becomes law, the impact it would have on the retirement accounts of everyday working people.

Also known as “Secure 2.0,” the Securing a Strong Retirement Act (H.R. 2954) was approved March 29 by the U.S. House in a bipartisan 414-5 vote. If it becomes law, the bill would expand automatic enrollment, simplify many retirement plan rules and strengthen small businesses’ ability to offer workplace retirement plans.

Buffenbarger argued the bill would also ensure wealthy individuals could stash away even more money into tax advantaged retirement accounts. He pointed to an article published in the Washington Post by Daniel Hemel that explains why the wealthy hold all the advantages when it comes to retirement systems and tax laws. This latest bill would only reinforce the trend, Buffenbarger said.

He pointed out the average American has $50,000 or less invested for retirement. More needs to be done to help everyday workers save for retirement, he added.

Buffenbarger called for a strengthening of Social Security and Medicare so everyone can benefit, not just the top 29,000 IRA and 401K holders in the country.

Listen to the entire episode to learn more about these topics.


America’s Work Force is the only daily labor podcast in the US and has been on the air since 1993, supplying listeners with useful, relevant input into their daily lives through fact-finding features, in-depth interviews, informative news segments and practical consumer reports. America’s Work Force is committed to providing an accessible venue in which America's workers and their families can hear discussion on important, relevant topics such as employment, healthcare, legislative action, labor-management relations, corporate practices, finances, local and national politics, consumer reports and labor issues.

America’s Work Force Union Podcast is brought to you in part by our sponsors: AFL-CIO, American Federation of Government Employees, American Federation of Musicians Local 4, American Alliance for Manufacturing, Anthem Blue Cross Blue Shield, Columbus/Central Ohio Building and Construction Trades Council, Communication Workers of America, International Association of Heat and Frost Insulators and Allied Workers, International Association of Heat and Frost Insulators and Allied Workers Local 50, International Brotherhood of Teamsters, International Federation of Professional and Technical Engineers, International Union of Bricklayers and Allied Crafts, International Union of Painters and Allied Trades District Council 6, Ironworkers Great Lakes District Council, The Labor Citizen newspaper, Laborers International Union of The National Labor Office of Blue Cross and Blue Shield, North America, North Coast Area Labor Federation, Ohio Federation of Teachers, Survey and Ballot Systems, United Labor Agency, United Steelworkers.

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