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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The General Election is Tuesday, November 7, and early voting is running through Sunday, November 5th!
November 6-November 9: SAG-AFTRA members are still out on the picket lines and need our support, now more than ever!
UAW national negotiators announced on Wednesday that they have reached a tentative agreement with Ford.
On Thursday, AFA-CWA held a Day of Action at airports across the country, including here in NYC at LaGuardia where they were joined in solidarity by supporters including the striking members of SAG-AFTRA.
Musicians of the Distinguished Concerts Orchestra, represented by AFM Local 802, have unanimously ratified their first union contract with Distinguished Concerts International New York.
Through November 2: Season 12 of the Workers Unite Film Festival kicks off Friday, October 27th to November 12th. Catch 50-plus films live at Cinema Village theater (22 East 12th St) from 10/27-11/2, with a selection of films available online 11/3-11/10.
Wednesday, November 8, 6 -7:30PM: Please join the New York Labor History Association and the Tamiment Library and Robert F.