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:
With nearly 52 years on the job, Teamsters 831 member Joe Caggiano is the city's longest-serving sanitation worker. The 75 year-old started back when John Lindsay was mayor, and garbage trucks only had three wheels.
On Monday, adjunct professors in the CUNY system, members of Professional Staff Congress (PSC-CUNY), joined with labor allies, students, and members of the community to call for a fair contract for the CUNY workers.
This Wednesday, Jet Blue flight attendants traveled to Washington, D.C. to file paperwork with the National Mediation Board to join the Transport Workers Union. Jet Blue employs roughly 4,800 flight attendants, 2,200 of whom work at JFK Airport.
CUNY Faculty Union, Major Labor and Community Organizations to Kick-Off Contract Campaign for Fair Salaries, Quality Education Monday
With their union contract recently expired, CUNY faculty and staff represented by the Professional Staff Congress will press CUNY management to come to the table and negotiate an agreement that protects the quality of a CUNY education and helps students to succeed.
Join the Professional Staff Congress- CUNY for a contract campaign kick-off march and rally to stand for the contract they deserve.
This week, the Writers Guild of America, East announced the DNA Info./Gothamist (DNAist) bargaining unit negotiated a substantial transition agreement for workers who were abruptly fired two weeks ago when outlet owner Joe Ricketts shut them down.
Terms of the agreement include:
The Writers Guild of America, East today announced that staff at Vox Media overwhelmingly voted to unionize. Members of the new “Vox Union” include writers, editors and social media professionals, as well video producers and others.
This week, thousands of members of New York City Building Trades unions gathered on 10th Avenue at 34th Street for a solidarity rally against open shop policies on construction sites.
Today, the Worker Institute at Cornell and the Murphy Institute convened a conference entitled “Janus and Beyond: The Future of Public Sector Unions” to address attacks on labor, and how we keep members engaged.
Last year, the Bakery, Confectionary,Tobacco Workers and Grain Millers Union (BCTGM) called for a boycott of Mexican-made Nabisco products, in protest of Mondelez’s (the parent company to Nabisco) policy of outsourcing of U.S. based, union-made products (Oreo, Chips Ahoy, Ritz) to Mexico.