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:
On Tuesday, more than 5,000 flight attendants employed by JetBlue voted 2,661 to 1,387 to join the Transport Workers Union. The results were released by the National Mediation Board, which oversaw the electronic balloting.
32BJ SEIU’s bargaining committee and the Realty Advisory Board reached a tentative agreement last Friday that would provide 11.3% raises over four years, maintain health care, increase funding for training and retirement benefits and added protections against harassment.
After over three years of legal delays by the Columbia University administration, a majority of 3,000 research and teaching assistants have voted 93% (1832 to 136) to authorize their bargaining committee to call a strike.
A decision in the Janus Case is Coming Soon. Regardless of the Supreme Court decision, we must stand united and make it clear that no court case can stand in the way of our fight for the good, union jobs our families, communities, and country needs.
Here’s how you can help TODAY:
Governor Andrew M.
New York, NY – Vincent Alvarez, President of the New York City Central Labor Council, AFL-CIO, released the following statement regarding today’s Transport Workers Union JetBlue unionization election victory:
Local 338 RWDSU/UFCW members at the CVS located at 1070 Flatbush
The NYC CLC stood with the GWC-UAW Local 2110 Graduate Workers of Columbia to deliver a letter to the Dean of Columbia University demanding they are given the respect that they have earned through the democratic process.
Is your local prepared for the upcoming Janus decision?