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:

Mar 15, 2024 | News Story

On Wednesday, March 13, Staten Island University Hospital (SIUH)/ Northwell) nurses held a speak-out in front of their hospital and announced that they authorized their executive committee to call a strike if management fails to bargain a fair contract that protects care for Staten Island patient

Mar 15, 2024 | News Story

The unionized employees of Mobilization for Justice, Inc. (MFJ) are wrapping up the third week of their strike for a fair contract and against MFJ's unfair labor practices. On February 23, 93% of voting MFJ Union members rejected management’s contract offer and declared an indefinite strike.

Mar 15, 2024 | News Story

The Retail, Wholesale and Department Store Union (RWDSU) this week announced that, by an overwhelming vote of 85% in favor of the union, workers at the Barnes & Noble 82nd Street Store on the Upper West Side of Manhattan have voted to join the RWDSU.

Mar 15, 2024 | News Story

Workers at the Empire Justice Center, who provide civil legal services to New Yorkers in need across the state, won a decisive victory to unionize on Monday, March 4.

Mar 15, 2024 | News Story

After just three days on strike last week, teaching fellows, teaching assistants, course assistants, research assistants, and tutors at The New School, represented by United Auto Workers (UAW), reached a long-awaited tentative agreement at the New School.

Mar 15, 2024 | News Story

The National Association of Letter Carriers (NALC) gathered with other labor leaders, including AFL-CIO Secretary-Treasurer Fred Redmond, and union members across the labor movement in front of the U.S. Capitol on Wednesday to call on Congress to pass the Protect Our Letter Carriers Act.

Mar 15, 2024 | News Story

The International Alliance of Theatrical Stage Employees (IATSE), the International Cinematographers Guild (ICG, IATSE Local 600) and IATSE Local 494 have succeeded in thwarting an elaborate effort by local production company La Celda, LLC to chill both the union’s rights and the rights of produc

Mar 8, 2024 | News Story

After more than six months of bargaining their successor contract, teaching fellows, teaching assistants, course assistants, research assistants, and tutors at The New School, represented by United Auto Workers (UAW), went on strike Wednesday, with supporters including the CLC joining them for th