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 26, 2023 | News Story

Hundreds of workers at Brooklyn Defender Services rallied during a lunch time picket on Wednesday, calling on BDS management to stop stalling on contract negotiations with the union and come to the table with serious proposals.

May 26, 2023 | News Story

When Mayor Adams and city leaders unveiled the nation’s first proposed minimum pay rate for food delivery workers last year, they made a bold promise: New York would finally deliver economic stability for an “essential” workforce.

May 26, 2023 | News Story

In affiliation with Workers United, Barbancino Pizza in Crown Heights is on track to become NYC's first unionized pizzeria! On Monday, workers filed for election with the NLRB and delivered a letter requesting voluntary recognition to the restaurant's owners.

May 19, 2023 | News Story

Across New York City, resident physicians, alongside their nursing coworkers, are at the center of patient care in our hospitals. Elmhurst physicians are ready to strike if Mount Sinai does not agree to award them parity in salary and benefits with Mount Sinai Hospital resident physicians.

May 19, 2023 | News Story

On Tuesday, workers at GrowNYC announced their employer will recognize the workers’ union formed with the Retail, Wholesale and Department Store Union (RWDSU).

May 19, 2023 | News Story

The Executive Board of the NYC CLC on Thursday, May 18th adopted a resolution in support of worker organizing, reaffirming our support for workers across all sectors of New York City who face signif

May 23

Tuesday, May 23, 11AM to 2PM: Show your solidarity with striking Writers Guild of America East members at a rally at 30 Rockefeller Center (49th Street between 5th & 6th Avenues).

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.