UAW Members Seek Pension Restoration Amid Retirement Concerns

As the United Auto Workers (UAW) strike continues, members are demanding the restoration of pensions and retiree health care for those hired after 2007, highlighting the financial fragility many workers face in retirement. With the shift away from traditional pensions and the reliance on 401(k) plans, many workers, like UAW member Patty Ellison, worry that their savings will not be enough to support them in retirement. The UAW's demand for pensions puts a spotlight on the challenges faced by workers in building up their 401(k) savings, including low wages, layoffs, and rising costs of living. While auto companies like Ford and Stellantis offer various retirement benefits, the UAW's demand for pensions is seen as a long shot. Experts warn that agreeing to the UAW's demands could pose serious financial challenges for automakers and potentially lead to bankruptcy.