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:
This time last week, reporters and editors at New York City local news sites DNAinfo and Gothamist were celebrating after voting to unionize with Writers Guild of America, East in an NLRB-conducted election.
This week in Harlem, labor and community leaders came together for a community forum focused on the negative effects a New York Constitutional Convention would have on communities of color.
On Monday, October 30th union members from all over NYC gathered in Times Square to rally with striking IBEW Local 3 workers.
Last Saturday, union members gathered in Brooklyn, Staten Island, and Queens for a day of GOTV to educate their fellow union members about the dangers of a NYS constitutional convention.
This week, AFL-CIO President Richard Trumka and other top labor leaders joined Senate Democratic Leader Chuck Schumer, House Democratic Leader Nancy Pelosi, and other top party leaders to introduce the “Better Deal” platform, a series of pro-labor reforms.
Boycott Hilton Albany Hotel! Sign On to a Letter of Support in Solidarity with Hotel Trades Council Workers
On Monday, District Council 37 AFSCME Executive Director Henry Garrido participated in an Oxford-style debate, to educate listeners of the dangers of a New York State Constitutional Convention.
Brothers & Sisters:
The November 7 election is fast approaching and there isn't much time left to reach out to all of the voters! Join us to knock on fellow union members' doors in a massive canvassing operation on Saturday, November 4.
Now more than ever, communities of color are under constant attack, and we can’t afford to put our livelihood at further risk.