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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Hundreds of Writers Guild of America, East (WGAE) members at Hearst Magazines walked off the job yesterday to demand management agree to a fair first union contract at their last scheduled day of negotiations on March 28.

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Workers at more than 115 Starbucks locations across the country including two in Astoria and one in Williamsburg walked off the job Wednesday to pressure the company to negotiate contracts with the unionized stores.

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Actors’ Equity Association, the national labor union representing more than 51,000 professional actors and stage managers in live theatre, has been bargaining with the Broadway League for over two months on an agreement for shows on tour.

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The Alliance for Retired Americans has released its

Mar 24

Friday, March 24, 11:30AM-1PM: Please join us for the commemoration of the 112th anniversary of the 1911 Triangle Shirtwaist Factory Fire, one of the pivotal events in US history and a turning point in labor’s struggle to achieve fair wages, dignity at work and safe working conditions.

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Mar 10, 2023 | News Story

New York is a union town and Saturday Night Live is built with union labor. But NBC Universal has resisted negotiating a fair union contract with its newly organized editorial crew.