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:
After long days of negotiations on Friday, May 26 and Memorial Day with little progress made, more than 1000 NYSNA nurses delivered a strike notice to administrators at NewYork-Presbyterian Brooklyn Methodist Hospital this week.
Insider Union members went on strike at 12AM this morning in response to the company’s refusal to undo illegal changes it made to their health care and management’s intransigence in contract negotiations.
AFM Local 802 is spreading the word that the upcoming Broadway show "Here Lies Love" by David Byrne is attempting to hire NO live musicians, which would be the first time in history for a League-produced Broadway show.
REI yesterday notified RWDSU—the union representing workers at its SoHo, New York store—through its new legal counsel that many workers at the store would be receiving pay cuts in their next paycheck amid a shakeup of the company’s legal representation at the bargaining table.
MTA Local 100 President Richard Davis this week announced that the union has reached a tentative contract agreement with the MTA that includes substantial salary increases and other important wins for membership.
Delivery workers work day in and day out to deliver New York City residents like me food, supplies, and medicine we need. Still, these workers have been at the mercy of multi-billion dollar corporations that exploit and deny them living wages.
The approximately 165 doctors employed by Icahn School of Medicine at Mount Sinai (“Mount Sinai”) at Elmhurst Hospital this week ended their unfair labor practice strike after 3 days, with the doctors saying that Mount Sinai finally bargained in good faith and made movement that was sufficient fo
Barnes & Noble workers at the Park Slope, Brooklyn store yesterday filed for their union election with the National Labor Relations Board (NLRB) seeking representation with the Retail, Wholesale and Department Store Union (RWDSU).
UFT members are currently working under an expired contract.
The New York Times Guild, a unit of The NewsGuild of New York, announced on Tuesday that it has reached a tentative agreement with The New York Times Company on a new collective bargaining contract after more than two years of negotiations.