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:

Nov 12, 2021 | News Story

Student workers including undergraduate and graduate teaching and research assistants at Columbia University are wrapping up the second week of their strike, the second-largest in the country.

Oct 29, 2021 | News Story

This week, more than 250 Breaking Ground workers officially joined AFSCME District Council 37. Their unionization follows voluntary recognition from management, which was reached earlier this month.

Oct 29, 2021 | News Story

UAW members mourned the death this week of Richard Rich, a 56-year-old member of Milan, Ill, Local 79, who was a 15-year employee at the Milan John Deere Parts Distribution Plant in Moline, Ill. He was struck in a traffic accident and fatally injured while walking to the picket line.

Oct 22, 2021 | News Story

New York oil workers fired by John Catsimatidis in retaliation for their strike for equal pay rallied Tuesday alongside local elected officials, Teamsters, and other union supporters outside the billionaire’s Midtown office. Workers from the Catsimatidis-owned United Metro Energy Corp.

Oct 22, 2021 | News Story

A nationwide strike that would have started Monday was averted over the weekend when the International Alliance of Theatrical Stage Employees (IATSE) reached a tentative three-year agreement with the Alliance of Motion Picture and Television Producers (AMPTP) for The Basic and Videotape Agreement

Oct 22, 2021 | News Story

A supermajority of eligible employees at INCLUDEnyc have announced their intention to form a union with the Office and Professional Employees Union (OPEIU) Local 153.

Oct 22, 2021 | News Story

The Legal Services Staff Association, NOLSW/UAW 2320 (LSSA), has settled its union contract with employer Legal Services NYC (LSNYC). With 90% of members participating, the contract was ratified by 80% voting yes.

Oct 8, 2021 | News Story

On September 27, the New York State Public Employment Relations Board (PERB) certified Local 338 RWDSU/UFCW as the union to represent twelve agricultural workers employed at Pindar Vineyards in Peconic, New York.

Sep 24, 2021 | News Story

After weeks of strikes and protests, Nabisco workers last weekend voted to ratify a new contract and end their strike.

Sep 17, 2021 | News Story

The BCTGM announced this week that is has reached a tentative agreement with Nabisco/Mondelez on a new contract. In the coming days, the Local Union officers on the bargaining committee will present the tentative agreement to their respective memberships who will then vote on the agreement.