America's Workers

Among the bills Schoening is watching is the Lifetime Income For Employees Act, or the LIFE Act, for short. Its supporters, led by Reps. Donald Norcross, D-New Jersey, and Tim Walberg, R-Michigan, say the legislation would allow annuities to be part of a default investment in an employer-provided 401(k), with the stated goal of supporting workers as they seek to build a steady, guaranteed income stream during retirement.

U.S. Rep. Donald Norcross (D-1st Dist.) talked about the impact these funds are having throughout the county for a variety of mission driven organizations.

"The American Rescue Plan continues to play a fundamental role in our recovery from the pandemic, and I am proud to have voted to make this funding available," Norcross said.

"I think we're going to need a couple years really to feel out what the American worker wants to do, because it's a very emotional time, and mental health issues that we're dealing with from being cooped up at home…at the end of the day, that still plays into any factors that you're looking at for the workplace," said Congressman Donald Norcross.

"As a retired electrician, I know first-hand how important pensions are to workers who rely on them for their retirement," Mr. Norcross said in a news release. "By creating 'individual pensions,' this legislation will provide hard-working Americans with a guaranteed income so they can retire with dignity."

"American workers are concerned about retirement and their concerns are not unfounded. Seven out of 10 Americans say they're living paycheck to paycheck and 80% say they'll need to work in retirement due to lack of savings," Norcross said. "...