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.
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Unions representing thousands of federal workers came together in DC yesterday to rally and march in protest of the continuing shutdown and resulting furloughs that are financially hurting 800,000 employees and families. The rally began at AFL-CIO headquarters in Washington, D.C.
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Editorial staffers at Refinery29, a web site focused largely on Millennial women, are the latest to unionize under the Writers Guild of America East.
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Nearly 20 union leaders were arrested and hundreds of faculty, staff and students demonstrated in the wintry cold Dec. 10 to demand full funding for the City University of New York.
Staffers at New York Magazine on Wednesday morning asked management to voluntarily recognize an editorial union, joining a host of other news and magazine organizations that have similarly unionized in recent years.
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