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:

Dec 22, 2023 | News Story

Production accountants at Local 161 have won union recognition for all Netflix accountants in New York and New Jersey.

Dec 20

Wednesday, December 20, 2:30PM: Rally with NYC commercial cleaners, porters and handypersons for a fair new labor contract covering 20,000 NYC workers and 1,300 buildings. The rally will take place at 41st Street and Broadway.

Dec 15, 2023 | News Story

Postdoctoral researchers at Icahn School of Medicine at Mount Sinai, members of SPOC-UAW, are currently on an unfair labor practice strike in the process of reaching a fair contract.

Dec 15, 2023 | News Story

Unionized editorial workers at Law360 — who have had enough of parent company LexisNexis execs’ illegal tactics and stalling at the bargaining table — held a one-day strike on Wednesday, highlighted by a mid-afternoon rally and a day-long picket line outside corporate headquarters in New York Cit

Dec 15, 2023 | News Story

Workers at the Brooklyn Strategist (333 Court St.), a popular tabletop board game cafe in Cobble Hill owned by Jon Freeman, this week won a landslide victory 17-1.

Dec 15, 2023 | News Story

The American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) and Microsoft Corp.

Dec 15, 2023 | News Story

Governor Kathy Hochul this week announced a new $45 million Apprenticeship and Pre-Apprenticeship Clean Energy Training Initiative. This initiative will expand the capacity of labor organizations to offer training as a pathway to clean energy careers.

Dec 15, 2023 | News Story

Find that perfect holiday gift that carries a union label and is made in America. Shipping gifts this year? Make sure to ship using a union carrier like the U.S. Postal Service or UPS.

Dec 8, 2023 | News Story

Solidarity at Sinai! Postdocs and research scientists at New York's Icahn School of Medicine at Mount Sinai began an Unfair Labor Practice Strike on Tuesday.

Dec 8, 2023 | News Story

Netflix Production Accountants working in New York and New Jersey have reached an agreement with Netflix to be recognized as members of the International Alliance of Theatrical Stage Employees (IATSE) Local 161.