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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Vincent Alvarez, President of the New York City Central Labor Council, AFL-CIO, released the following statement regarding Transport Workers Union Local 100's tentative contract agreement:
This week, TWU Local 100 announced an arbitration ruling that helps secure pension parity for more than 2,000 bus drivers.
Workers at Trump Taj Mahal in Atlantic City have been on strike since July 1. Join these workers in Atlantic City to show your support and stand up for good wages and benefits!
This week the United States Supreme Court (SCOTUS) rejected a request to rehear the Friedrichs v. California Teachers Association case, which received a 4-4 ruling from the court in March of this year.
Today, CWA announced that the roughly 40,000 union members along the East Coast who had been on strike for 49 days have ratified new contracts.
The NewsGuild of New York, CWA recently launched a new “What El Diario Means to Me” campaign, to highlight the importance of the hometown paper. El Diario is the nation’s oldest Spanish-language daily newspaper, and many New Yorkers utilize the paper as an important source of local news.
Join the workers at Con Edison, members of UWUA Local 1-2, as they call for a fair contract!
Join RWDSU and Macy’s workers, Members of RWDSU Local 1-S, as they rally for a new contract.
Macy’s has been making demands that would limit workers’ pay and weaken benefits. It’s time to stand with these workers against corporate greed!
WASHINGTON – U.S. Secretary of Labor Thomas Perez issued the following statement today regarding the ongoing labor dispute at Verizon: