Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
WASHINGTON, Jan. 14 -- The office of Sen. Cory Booker, D-N.J., issued the following news release:
U.S. Sen. Cory Booker (D-NJ) today issued the following statement after the Senate failed to pass an extension for long-term unemployment insurance:
"I am extremely disappointed that we failed today to pass desperately needed help for more than 1 million Americans, including more than 90,000 New Jerseyans, who continue to look for work in a job market where there are still three job seekers for every job available. Congress has never before allowed special extended unemployment benefits to expire when the long-term unemployment rate is as high as it is today.
"Over the past week, people in New Jersey who are being impacted by Congress's failure to extend unemployment insurance have been writing and calling my office, folks like David from Sussex County, who wrote: 'I have been on unemployment since May of this year after losing my job. I am married and a father of three children ages 7, 9 and 11. We have just lost our home and health insurance. My wife is working three jobs to help us make it. I look every day for a job. I am 51, and at my age it's even more difficult. This is the first time in my life that I have ever been on unemployment. Please help us.'
"To New Jerseyans such as David, I can only express my frustration and pledge to you that I will keep pushing to pass extended unemployment benefits. The ranks of the long-term unemployed continue to grow, even as the unemployment rate overall is on the decline, and failure to pass this critical legislation will cost an additional 240,000 jobs this year. Today's vote hurt New Jersey families, and it will likely hurt New Jersey's economy."
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