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:
Last week, quality assurance testers at Activision Blizzard division Raven Software formed the first union at a major U.S. gaming company, comprising their 34-member unit.
After more than 2.5 years of bargaining, New York Magazine Union has reached a deal with NY Mag and Vox management, with a groundbreaking contract that raises the bar for all news workers.
The AFL-CIO Housing Investment Trust (HIT) is helping to finance the $337.7 million new construction of 311 West 42nd Street, a mixed-use development comprised of 330 residential rental units, 83 of which are affordable, and 41,678 square feet of rentable retail space.
Two years after forming a union with NewsGuild of NY, the Sports Illustrated Union has agreed on a first contract that, once ratified, will protect their workplace and their journalism.
Salon’s 16-member bargaining unit yesterday unanimously ratified their second collective bargaining agreement with the Writers Guild of America, East (WGAE).
After ten long weeks on strike, in what became the largest labor action in the country, student workers at Columbia University have reached a tentative contract
In a long-awaited decision, the National Labor Relations Board this week ruled that New York Times tech workers can hold a vote on unionization starting later this month as one united bargaining unit.
The Staten Island Ferry workers union that has gone over a decade without a new contract or wage increase is cautiously optimistic that New York City’s new mayor will prioritize resolving the longstanding stalemate.
This week, the majority of animation workers at Harriet the Spy and Superjail! studio Titmouse who are based in New York signed union cards to be represented by The Animation Guild, IATSE Local 839, and Titmouse managemen