Statements on Introduced Bills and Joint Resolutions

Floor Speech

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Mr. BROWN. Mr. President, I rise today to address America's retirement savings crisis. A 2013 survey conducted by the Governors of the Federal Reserve System found that roughly 31 percent of Americans have no retirement savings or access to a defined-benefit pension. In addition, 19 percent of respondents nearing retirement--those aged 55 to 64--reported having zero savings or pension to rely on in the coming years.

In light of these figures it is more important than ever that Congress ensure America's seniors have access to the Social Security benefits they have earned. Yet provisions such as the Windfall Elimination Provision, WEP, and the Government Pension Offset, GPO, prevent millions of Americans--including teachers, firefighters, and police officers--from receiving their full benefits. It is time Congress repealed them.

This afternoon, I, along with Senator Collins and a number of my Senate colleagues from both sides of the aisle, introduced the Social Security Fairness Act. This bipartisan bill will repeal both the WEP and GPO provisions which Congress enacted in 1983 and 1977, respectively. In December 2014, these unfair provisions chipped away at more than 2 million Americans' Social Security benefits. That same month, in my State of Ohio, more than 200,000 Ohioans had their Social Security benefits reduced because of these provisions.

Over the past 35 years, fewer and fewer workers have been given access to defined-benefit plans, and, today, only about half of the total U.S. workforce is covered by an employer-sponsored retirement plan. That is why Social Security is critical for so many. Congress should make sure that every American has access to all the Social Security benefits he or she has earned. Repealing these provisions is an important step in that direction.

I ask my colleagues to join me in repealing the WEP and GPO by cosponsoring this legislation.

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