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.
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As we look back on the past year, we're reflecting on the continuing challenges that the New York City labor movement has faced, but also on the significant ground we’ve gained and the enormous potential ahead of us.
Members of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (BCTGM) who work at Kellogg’s ready to eat cereal plants in Battle Creek, Mich., Lancaster, Pa., Omaha, Neb. and Memphis, Tenn. have voted to accept the recommended collective bargaining agreement.
On Tuesday, employees at the well-regarded firm SHoP Architects announced that they are seeking to unionize with the International Association of Machinists and Aerospace Workers. If successful, they will be the the first union at a prominent private-sector architecture firm in the country.
New York oil workers on strike for equal pay rallied with union supporters outside John Catsimatidis’ Midtown office on Wednesday, saying the billionaire’s union busting has ruined Christmas for their families. Immigrant workers from the Catsimatidis-owned United Metro Energy Corp.
We know that unions promote economic equality and build worker power, helping workers to win increases in pay, better benefits, and safer working conditions. But that’s not all unions do. Unions also have powerful effects on workers’ lives outside of work.
Baristas at the Elmwood Starbucks in Buffalo, NY declared victory yesterday in the first union election in the history of the coffee giant.
A clear majority of the iHeartPodcast Network, the fastest growing division of iHeartMedia, signed union cards to organize with the Writers Guild of America, East (WGAE). The Guild has called on management to voluntarily recognize the union.
Columbia student workers are still on strike in what is currently the largest such action in the country. Three thousand workers, including undergraduate and graduate teaching and research assistants at Columbia University, are now in the sixth week of their strike.
The 30-member editorial staff at The Intercept, the investigative journalism digital news site, last night ratified its second union contract with the Writers Guild of
Members of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (BCTGM) on strike against Kellogg’s in Battle Creek, Mich., Lancaster, Pa., Omaha, Neb. and Memphis, Tenn. have overwhelmingly voted to reject the tentative agreement.