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IA Senator Looks at New Approach to Retirement
WASHINGTON, DC (CBS 2/FOX 28) --
Senator Tom Harkin announced today (January 30th) a new bill meant to rebuilt the pension system.
He says it would create a privately-run retirement plan that includes universal coverage, automatic enrollment, secure lifetime income, lower costs, and portability between jobs.
Harkin says a change is needed because the current retirement fund faces a $6.6 billion deficit.
Right now, 75 million working Americans say they do not have a retirement plan.