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.

More about this issue:

Jan 12, 2024 | News Story

Musicians of the American Federation of Musicians of the U.S. & Canada (AFM) will begin bargaining with the Alliance of Motion Picture and Television Producers (AMPTP) this month.

Jan 5, 2024 | News Story

Workers at City World Ford in the Bronx are on strike! In July, the workers voted unanimously to unionize with UAW Local 259. Management has repeatedly ignored requests for information and dates to bargain, so the members voted unanimously to authorize a strike starting yesterday.

Jan 5, 2024 | News Story

New York’s minimum-wage workers had more than just the new year to celebrate Monday, with a pay bump kicking in as the clock ticked over to 2024.

Dec 26, 2023 | News Story

This year, the whole world watched as workers across New York City and across the country came together in an unprecedented wave of activism and solidarity.

Dec 22, 2023 | News Story

On Wednesday, an estimated 10,000 32BJ SEIU members rallied at 6th Ave & 50th St.

Dec 22, 2023 | News Story

Healthcare workers with the New York State Nurses Association (NYSNA) and Communications Workers of America District 1 (CWA D1), joined by other healthcare unions and labor leaders, held a rally and press conference Tuesday, calling on lawmakers to prioritize safe staffing, ahead of a crucial

Dec 22, 2023 | News Story

After more than a year of bargaining followed by an energetic 12-day strike,

Dec 22, 2023 | News Story

Production accountants at Local 161 have won union recognition for all Netflix accountants in New York and New Jersey.

Dec 20

Wednesday, December 20, 2:30PM: Rally with NYC commercial cleaners, porters and handypersons for a fair new labor contract covering 20,000 NYC workers and 1,300 buildings. The rally will take place at 41st Street and Broadway.

Dec 15, 2023 | News Story

Postdoctoral researchers at Icahn School of Medicine at Mount Sinai, members of SPOC-UAW, are currently on an unfair labor practice strike in the process of reaching a fair contract.