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Faces of the Retirement Income Deficit

Announcer:  A secure retirement is part of the American dream, but of million of Americans that dream has been shattered.

Karen O’Quinn:  I worked for corporate America for many years and after being laid off, I had to recreate myself.  I like millions of people in this country have no retirement and no savings for retirement.  I do not know how I am going to make it. 

Announcer:  Karen is...

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Thomas R.

Las Vegas, NV

I myself have only 401k to rely on if I were to work for the same employer until my retirement.  My employer has phased out their cash balance pension plan right before I got onboard.  Many other employers do the same because 401k program transfers the responsibility of retirement planning to the employees because employers could save a ton of money in a long run.  So 401k has become the only source of retirement savings for...

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Carolyn R.

Springfield, MO

I have been a 56 year-old, single, working mom my entire life supporting two daughters, solely.  I was in an executive career with AT&T for many years as a National Account Manager for the number one retailler in the world.  Along came the merger with SBC and I was promptly offered a 'package' for AT&T to downsize along with over 1500 other executives in order for AT&T's books to look solvent.  Of course,...

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Jeanne Majors

Brooklyn, NY

On May 4th of this year I was able to leave the NYC Shelter system for a room at the YWCA in downtown Brooklyn. How did this occur? Well, I started collecting early Social Security retirement benefits in March of this year and I was able to move in. Prior to this, I was in the shelter system from August 2010 because my retirement income wasn't enough to get affordable housing in NYC without a job (full time or part time). My savings were...

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Pidok T.

Denville, NJ

I began working at the Hospital Center at Orange as a full time emergency room physician in 1975. The wage was somewhat lower than the nearby hospitals but the administration promised to provide pension benefits equal to 2% of the wage per year and insured by PBGC. I accepted the offer and settled down and worked with this hospital until its closure. The hospital ran into financial problems and was subsequently taken over by Cathedral...

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