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:
1700 part-time faculty members at The New School, members of UAW Local 7902, went on strike Wednesday, demanding a contract that provides real raises, expanded health coverage, greater job security, more input into curricula, and real recourse against harassment and discrimination.
Union members at HarperCollins, one of the largest publishers in the country, are beginning the second week of their strike, which began last Thursday after a drawn out negotiation process, with workers asking for higher wages, stronger commitments to diversifying staff and better family leave.
Starbucks Workers who are members of Starbucks Workers United/Workers United NY NJ at the NYC Roastery in Chelsea are in their third week on strike after they walked out over health and safety issues at the location.
Unionized workers at Brooklyn Museum, members of UAW Local 2110, rallied in the wind and rain outside the museum's main entrance on Eastern Parkway on Tuesday to call attention to stalled contract negotiations.
This past Tuesday, Climate Jobs NY (CJNY) was excited to host New York City Mayor Eric Adams for a tour of the Local 3 Electrical Industry Training Center in Long Island City to discuss the benefits the Carbon Free and Healthy Schools (CFHS) Initiative would have for NYC.
Pineapple Street Studios, the popular podcast network owned by Audacy, has formally recognized the Writers Guild of America, East (WGAE) as the collective bargaining representatives of the staff’s writers, producers, editors, engineers, and other storytellers.
In this week's elections, working New Yorkers made their voices heard, voting in support of candidates who will stand up for working families and engaging voters one on one through our NYC Labor Votes! Campaign and the efforts of our affiliate unions.
The Union Veterans Council, an AFL-CIO Constituency Organization, brings working-class veterans together to speak out on the issues that impact us most, especially the need for good jobs and a strong, fully funded and staffed VA.
Union members at HarperCollins, one of the largest publishers in the country, started an indefinite strike yesterday, with workers and supporters gathered outside the company's New York City offices to make their demands.
"This is my dream job. But I will not risk getting infected with bed bugs or sick due to mold." said Kent, a baker at the NYC Roastery at a rally held by Roastery workers and their supporters at the location at 61 Ninth Avenue in Manhattan on Thursday.