Retirement Security

Fewer employers today provide defined-benefit pensions for their workers—and among those that do, many are offering “defined-contribution” (like 401[k]s) rather than traditional “defined-benefit” pension plans.

That’s why Social Security insurance is essential for millions of retirees. Nearly two-thirds of retirees count on Social Security for half or more of their retirement income and for more than three in 10, Social Security is 90 percent or more of their income. It is a safety net that keeps retirees out of poverty.

It’s also important to figure out what you will need to retire. Talking a look at how much Social Security will provide, whether you have another form of pension and how much you spend are all components in determining when you can retire.

For decades, workers achieved retirement security because their retirement income flowed from a combination of employer-provided pensions, Social Security and personal savings. But the recession has exposed the severe deficiencies in our retirement system. We need to develop a new way to provide workers with lifetime retirement security beyond Social Security.

More about this issue:

May 12, 2023 | News Story

Committee of Interns and Residents (CIR) resident physicians at three essential safety net hospitals in Queens are poised to strike over their employers' continued bad faith bargaining and failures to make meaningful movement towards their demands, which include living wages and patient care prop

May 12, 2023 | News Story

On Wednesday, hundreds of NYSNA members who work for NYC Health+Hospitals and Mayoral agencies rallied at Foley Square to sound the alarm on the crisis of understaffing and high turnover that threatens care for the vulnerable patients who depend on our city’s public health system.

May 5, 2023 | News Story

On Friday, Barnes & Noble workers at the flagship Union Square, New York store filed for their union election with the NLRB seeking representation with the Retail, Wholesale and Department Store Union (RWDSU).

May 5, 2023 | News Story

“No contract, no peace!” That was the rallying cry outside of Carnegie Hall last Saturday as the DCINY Orchestra and their allies ramped up their campaign for a fair contract with DCINY.

May 5, 2023 | News Story

NYSNA nurses from New York Presbyterian-Brooklyn Methodist picket outside of the hospital in Park Slope on Thursday to call out attacks on safe staffing and quality care standards.

May 5, 2023 | News Story

More than 160 resident physicians at Elmhurst Hospital, one of the city’s largest public hospitals and ground zero of New York’s COVID pandemic response, voted to authorize a strike if they do not reach a deal on raises and hazard pay, the Com

Jun 4, 2023 | News Story

For updated picket locations and times, and to rsvp, please visit:

https://www.wgacontract2023.org/strike/picket-schedules-and-locations

 

Apr 28, 2023 | News Story

Friday, April 28, 12PM: Join the New York City Central Labor Council, AFL-CIO, and the New York Committee for Occupational Safety and Health (NYCOSH) for our annual Workers’ Memorial Day event to honor those who have died or suffered injuries or illnesses while on the job, to rec

Apr 28, 2023 | News Story

The NYC CLC, representing 300 unions and 1.3 million members including more than one million registered voter households across New York City, yesterday announced its first round of endorsements for the 2023 New York City elections.