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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New York, NY - President Vincent Alvarez of the New York City Central Labor Council, AFL-CIO, today released the following statement regarding NYU's refusal to reach a fair contract for graduate student researchers and instructors:
The UAW represents over 1200 graduate workers at New York University and have been in negotiations for a contract for over one year.
New York, NY - New York City Central Labor Council, AFL-CIO President Vincent Alvarez today released the following statement, regarding initiatives outlined in Mayor de Blasio's State of the City Address:
On January 30th, MFY union members (LSSA - NOLSW/UAW Local 2320) voted to reject the unreasonable contract offered by MFY management, and are now on strike.
Bronx, NY – Workers at Hunts Point Market voted to approve a new, three year contract today, with 97% of workers voting "yes." The 1,300 workers, members of Teamsters Local 202, will receive significant wage increases in each year of the contract.
This week, City Hall reached a tentative $248 million contract deal with IUOE Locals 891 and 94, which represent public school custodians, firemen, and
New York, NY - New York City Central Labor Council, AFL-CIO President Vincent Alvarez today released the following statement, reaffirming the Council's support of the horse carriage industry:
Wouldn’t it be amazing if working families gathered together on Black Friday and sent a message to the country’s largest employer that its workers deserve a living wage and full-time work? Well, that’s exactly what’s going to happen, and you can be a part of it.