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:

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Writers Guild of America East members at New York-based Spotify Studios (formerly Gimlet Media and Parcast) and The Ringer have both reached tentative agreements with Spotify on new collective bargaining agreements.

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Workers United and Starbucks this week announced this week that they have agreed to begin discussions on a foundational framework to achieve collective bargaining agreements for represented stores and partners, the resolution of litigation between the union and the company, including brand litiga

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Starbucks workers in Park Slope, Westbury and Garden City filed petitions with the National Labor Relations Board (NLRB) this week to unionize with Starbucks Workers United. They were joined by baristas at 21 Starbucks stores in 14 states during a flurry of February Filings.

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Barnes & Noble workers at the West 82nd Street Store in New York City this week filed for their union election with the NLRB seeking representation with the Retail, Wholesale and Department Store Union (RWDSU).