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:
Who doesn’t love raising money for huge, heartless multinational companies?
We need you at the BBH NY office Thursday, Nov. 1. SAG-AFTRA’s greatest power is the solidarity of our members. It’s time to show our strength – and good will.
Sisters & Brothers:
Workers at Charter/Spectrum have been on strike since March 2017 fighting for good healthcare and retirement security at a highly profitable company.
Columbia University postdoctoral researchers announced Thursday that they’ve voted overwhelmingly to choose Columbia Postdoctoral Workers-UAW (CPW-UAW) as their union.
After a two year campaign by the Independent Drivers Guild, New York’s Taxi and Limousine Commission held a hearing on Wednesday on the nation’s first livable wage rules for drivers for apps like Uber and Lyft.
The economy is rapidly changing. New companies are popping up all the time offering to serve as the conduit between workers looking to make ends meet and consumers wanting to fulfill a need.
At our September Delegates meeting, NYC CLC President Vincent Alvarez kicked off the new delegate year by swearing in eight new delegates. Welcome all!
In 2016, NYU abruptly pulled out of the League of Voluntary Hospitals, a multi-employer bargaining approach that has ensured quality care and good jobs for New Yorkers for decades.
More than 500 PSC-CUNY members and supporters gathered last night in front of the NY Stock Exchange and marched to the investment banking firm of CUNY Board chairperson William Thompson to demand investment in a contract for the PSC, and to protest continuing austerity at CUNY.
RWDSU, UNITE HERE Local 100 and Local 1102 RWDSU Herald Port Authority’s New Inclusive Wage Increases
Yesterday, the Port Authority of New York voted to enact a new wage resolution as a result of years of efforts by workers represented by the Retail, Wholesale and Department Store Union (RWDSU), UNITE HERE Local 100, and Local 1102 of the RWDSU.