By Lorie Konish
Source: CNBC

Many Americans long for the days when companies guaranteed workers income in retirement.

That includes Sara Schambers, a fourth-generation Ford auto worker and member of the United Auto Workers union, who saw her grandparents retire with financial security. But after obtaining a permanent position in 2012, the same benefits have not been available to her.

“Without a pension and post-retirement health care, you have people leaving this company after 30 years’ service with nothing more than a, ‘Have a nice day, hope the stock market doesn’t crash,’” Schambers told Senate leaders during a hearing in Washington, D.C., on Wednesday.

In an emailed statement, a Ford spokeswoman said the company “provides a very competitive 401(k) plan for our UAW-represented employees.”

Read the full article