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 13, 2022 | News Story

The Buzzfeed News Union voted unanimously on Friday to ratify their first union contract with the company. This past March, over 91% of the unit voted in favor of a strike amidst announcement of proposed cuts at the company.

May 13, 2022 | News Story

Across the country, we are seeing a great resurgence in worker organizing. Workers are striking in record numbers and winning uphill battles against corporate giants.

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North America’s Building Trades Unions (NABTU) and Ørsted, the U.S. leader in offshore wind energy, announced a Project Labor Agreement (PLA) to construct the company’s U.S. offshore wind farms with an American union workforce.

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Workers at the Starbucks in Caesar's Bay Shopping Center in Bath Beach, Brooklyn won their NLRB election unanimously with a result of 17-0.

May 6, 2022 | News Story

Actors’ Equity Association has opened a grievance against the licensors of the musical Waitress for double-breasting – profiting from union and non-union workers at the same time.

May 6, 2022 | News Story

More than 150 staff from the National Domestic Workers Alliance (NDWA), other non-profit organizations, CWA Local 1180, politicians, and supporters joined together for a virtual Zoom rally in support of NDWA staff unable to secure a contract with management after an entire year.

Apr 29, 2022 | News Story

New York City workers, labor leaders, elected officials, clergy and community members gathered yesterday at City Hall Park to mark Workers’ Memorial Day, honoring dozens of workers who have died or suffered illness or injuries while on the job in our City over the past year.

Apr 29, 2022 | News Story

This week, UFCW Local 1500 members from Foragers Market announced that they have voted to ratify their inaugural contract, which runs for 2 years.

Apr 29, 2022 | News Story

Workers at the legendary Greenwich Village movie house Film Forum filed a petition Tuesday for an NLRB election to join UAW Local 2110.

Apr 29, 2022 | News Story

The Association of Legal Aid Attorneys – UAW Local 2325 this week announced that the Center for Appellate Litigation (CAL) has recognized the union as the collective bargaining representative of its non-supervisory staff.