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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This week the National Writers’ Union, UAW Local 1981 (NWU), announced a settlemen
New York City Central Labor Council President Vincent Alvarez stated, “We applaud NY State Attorney General Schneiderman in leading this multi-state coalition, and for his steadfast support for workers across our state and country.
Workers at Hunt’s Point Market have ratified a new three-year agreement that includes substantial pay raises and funding for the workers’ health and pension plans. The agreement was reached after workers had voted to authorize a strike if the Tuesday deadline was not met.
This week, the Writers Guild of America, East announced digital media company Vox Media had voluntarily recognized the Vox Union as the representative for collective bargaining for around 400 creative professionals.
As 2017 comes to a close, it is important to look back on all that labor has accomplished this year.
After roughly a year of bargaining, CWA announced this week that it has reached a tentative agreement for 21,000 members covered by the Orange contract at AT&T Mobility.
Norma Rae is coming to Broadway. By now, most of us are familiar with the 1979 movie starring Sally Field, which tells the story of a North Carolina textile factory worker who chooses to join a union in response to poor working conditions.
With nearly 52 years on the job, Teamsters 831 member Joe Caggiano is the city's longest-serving sanitation worker. The 75 year-old started back when John Lindsay was mayor, and garbage trucks only had three wheels.