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:

Nov 24, 2021 | News Story

After two years of bargaining, The New York Times Company has continued to delay Wirecutter Union's negotiations through unfair labor practices and wage offers that significantly underpay  staff.

Nov 24, 2021 | News Story

Workers at billionaire John Catsimatidis's United Metro Energy Corp have been on strike since April 19th.

Nov 19, 2021 | News Story

Members of three New York Times bargaining units joined forces along with supporters including the NYC CLC on Tuesday to deliver a message to management: Stop union busting. Respect our union.

Nov 19, 2021 | News Story

Thousands of nursing home workers from hundreds of facilities across the state marched from Times Square to SEIU1199 headquarters on Seventh Avenue on Wednesday to tell nursing home owners that they deserve a fair contract with good wages, safe working conditions, affordable, comprehensive health

Nov 19, 2021 | News Story

With the end of the John Deere strike earlier this week, the Columbia student workers strike is now the largest strike action in the country.

Nov 19, 2021 | News Story

This week, the New York Daily News reported that billionaire John Catsimatidis is flouting labor law by underpaying oil truck drivers delivering heating oil to public schools and other city buildings, based on a compliant filed with the New York City Comptroller.

Nov 19, 2021 | News Story

This week was National Apprenticeship Week, and the labor movement has been celebrating the drive and success of thousands of union apprentices across the country.

Nov 12, 2021 | News Story

On Wednesday, the New York City Council passed a groundbreaking law regulating construction industry body shops, which prey on people returning home from incarceration and leverage workers' parole mandates of maintaining employment as a condition of their release.

Nov 12, 2021 | News Story

Student workers including undergraduate and graduate teaching and research assistants at Columbia University are wrapping up the second week of their strike, the second-largest in the country.

Oct 29, 2021 | News Story

This week, more than 250 Breaking Ground workers officially joined AFSCME District Council 37. Their unionization follows voluntary recognition from management, which was reached earlier this month.