WASHINGTON, DC - Eileen Kirlin, Executive Vice President of the 2.1 million member Service Employees International Union, issued the following statement in response to new findings released today by the Center for American Progress that reveal modest reforms to traditional defined-benefit pension systems, rather than complete overhauls, are the most cost effective option for taxpayers:

"Today's Center for American Progress report makes it clear that despite what extremist, right-wing ideologues might say, modest reforms to traditional pension plans can help save states money, while 401(k) style plans may actually deepen budget deficits.

"This report shows that investment in traditional pension plans, which are more efficient and cost effective than 401(k) style plans, can also relieve the burden of teachers, police officers and firefighters who are watching their hard-earned retirement benefits disappear because of an economic crisis that Wall Street created.

"Instead of eliminating traditional pensions, we must work together to find options to ensure that all workers can retire with dignity and security."

Learn more about SEIU's effort to protect retirement security for all at http://www.seiu.org/retirement-security/

With 2.1 million members in Canada, the United States and Puerto Rico, SEIU is the fastest-growing union in the Americas. Focused on uniting workers in healthcare, public services and property services, SEIU members are winning better wages, healthcare and more secure jobs for our communities, while uniting their strength with their counterparts around the world to help ensure that workers--not just corporations and CEOs--benefit from today's global economy.

"

###