Retirement Security

Congressman Tierney recognizes that the retirement security of many Americans is slowly eroding, as companies renege on their promises of health and pensions benefits to retirees, and the Social Security program remains under ideological attack.

Preserving and Strengthening Medicare

Republican Leadership continues to support ending Medicare as we know it – and in March they voted to do just that. On March 21, 2013, House Republicans passed their budget proposal (H. Con. Res.25) for FY 2014, which significantly cuts spending on Medicare by eliminating benefits and shifting costs to seniors and individuals with disabilities. These reductions in benefits and cost shifts affect both current and future Medicare beneficiaries. The Wall Street Journal says the plan “would essentially end Medicare." Congressman Tierney voted against this proposal when it was brought to the floor of the House of Representatives.

Instead, John is working to keep Medicare solvent; maintain patient protections; and lower costs for seniors. In fact, under the Affordable Care Act, more than 6.3 million seniors have already saved an average over $6.1 billion on their prescription drugs. And millions more have received a free preventive wellness appointment with their doctor.

To learn more about Democratic proposals for strengthening Medicare and preserve retirement security click here.

Maintaining and Strengthening Social Security

Congressman Tierney believes we must strengthen Social Security to preserve the long-term viability of this important program. The non-partisan Congressional Budget Office has certified that Social Security is capable of paying full benefits to all retirement, survivor and disability beneficiaries through 2037. While economic growth can extend that period, John believes we should work in a bipartisan manner to strengthen Social Security without adding to our national debt. Working together, as was done in the 1980s, Members of Congress can craft an acceptable proposal from the several well-known suggestions generally under consideration.

Protecting America's Pensions and Retirement System

Regrettably, more and more companies - even profitable ones - slash retirees' hard-earned benefits and leave individuals who carefully planned for retirement with an uncertain future. As a member of the Committee on Education and Labor, which has jurisdiction over pension legislation, Congressman Tierney has pressed for appropriate action to stop companies from reneging on their commitment to their retirees by terminating or scaling back their pension promises.

Congressman Tierney introduced the Emergency Retiree Health Benefits Protection Act (H.R. 1322), which would prohibit profitable companies from curtailing or eliminating benefits under their retiree health plans after a worker retires.

During the health insurance reform efforts, Congressman Tierney successfully secured certain principles of H.R. 1322 in the original House-passed version of health reform. Unfortunately, the Senate version, which ultimately became law, did not include these provisions, as the text was not amended dramatically by the House before the vote on final passage. Nonetheless, the Congressman remains committed to this cause and is currently focusing on gaining support for the re-introduction of a revised version of the bill in the 112th Congress. For more detailed information on this legislation, please visit THOMAS by clicking HERE.