Labor Day 2022 - What Does the Future Hold for American Workers?
by Don Drake, Connelly Law Offices, Ltd.
It's upon us already, Labor Day weekend, traditionally signaling the end of the summer season. Much has changed through the years since Labor Day first became a holiday, including for those who retire after decades of work hoping to live comfortably in retirement. "At one time, workers earned barely enough to squeeze out a meager living with no such thing as retirement, meaning most worked right up to their deaths," said certified elder law Attorney RJ Connelly III. "As unions gained a foothold, negotiated contracts with business owners guaranteed many a pension plan as the reward for years of service to that company. But these pension plans proved to be a financial hardship for many organizations as they were forced to pay for those in retirement while at the same time replacing that worker with another salary."