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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Dec 20

Wednesday, December 20, 2:30PM: Rally with NYC commercial cleaners, porters and handypersons for a fair new labor contract covering 20,000 NYC workers and 1,300 buildings. The rally will take place at 41st Street and Broadway.

Dec 15, 2023 | News Story

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Unionized editorial workers at Law360 — who have had enough of parent company LexisNexis execs’ illegal tactics and stalling at the bargaining table — held a one-day strike on Wednesday, highlighted by a mid-afternoon rally and a day-long picket line outside corporate headquarters in New York Cit

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Workers at the Brooklyn Strategist (333 Court St.), a popular tabletop board game cafe in Cobble Hill owned by Jon Freeman, this week won a landslide victory 17-1.