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:

Aug 19, 2022 | News Story

On Wednesday, members of SMART Sheet Metal Workers Local 28, Laborers Local 79, Steamfitters Local 638, community supporters and other union workers rallied in front of the Tribeca Film Center, calling on self-professed union man Robert De Niro to stop cutting corners on workplace standards by us

Aug 19, 2022 | News Story

Workers at the Trader Joe’s Wine Shop in Union Square spent the last four months laying the groundwork to unionize their store.

Aug 19, 2022 | News Story

Approximately 30,000 NYSNA nurses have union contracts expiring on December 31, 2022, or in early 2023. This is the first time in New York state that so many private and public sector nurses will be bargaining for critical improvements to their profession and their patients at the same time.

Aug 19, 2022 | News Story

Unionizing TV Commercial Production Department workers, backed by the International Alliance of Theatrical Stage Employees (IATSE) union and the Stand With Production Movement have met heavy resistance to their organizing efforts from the Association of Independent Commercial Producers (AICP).

Aug 19, 2022 | News Story

TIME Union workers have voted unanimously to ratify a new contract, a historic agreement that covers all TIME editorial employees without any divisions among the print and digital sides of TIME or TIME for Kids. The deal was finalized on July 21and ratified this week.

Aug 12, 2022 | News Story

Hundreds of workers employed by Gannett-owned newsrooms took a coordinated lunch break yesterday in response to a string of emails from upper management last week that

Aug 5, 2022 | News Story

New York City’s neglect for its Staten Island Ferry mariners, who have been working for the last 11 years without a contract, impacted other working New Yorkers this week when the system suffered service disruptions due to understaffing caused by the NYC Department of Transportation's failure to

Aug 5, 2022 | News Story

Nearly 300 journalists at Reuters, the global news agency, walked off the job yesterday for 24 hours in protest of management’s slow-walking contract renewal negotiations, the first major labor action by journalists at the company in more than 30 years.

Aug 5, 2022 | News Story

UPS workers across the country — including 14 locations in the New York region — rallied this week to launch the Teamsters contract campaign, a one-year effort to inform and mobilize members to win the strongest possible contract at UPS.