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:
Saturday, September 8: The 2018 NYC Labor Day Parade is just around the corner! Join us on Saturday, September 8 ay 10AM at 44th Street & Fifth Avenue marching uptown to show the world that NYC Is A Union Town!
Labor Day is a time to reflect on who we are as working people, what we’ve achieved together, and the challenges that lie ahead. When we organize, we make it possible for workers to demand family-sustaining wages, health care, retirement security, and a meaningful voice in the workplace.
“Blaming the MTA’s problems on its working men and women at a time when violent assaults on MTA employees are on the rise—Marc Molinaro should be ashamed,” said Vincent Alvarez, President of the New York City Central Labor Council, AFL-CIO.
State and Local primary elections are happening on Thursday, September 13, and registration deadlines are coming up fast. Make sure you're ready to vote on Election Day!
For more than a year, Best Market workers have been coming together to voice their concerns about conditions in their stores. Low wages and benefits are not the only issues facing their families; healthy and safe stores are equally important.
Members of the Thrillist Union with the Writers Guild of America, East (WGAE) voted on Monday to authorize a strike after meeting at the WGAE office for a Day of Action rather than reporting to work. 91% voted in favor of the strike authorization.
Verizon workers represented by the Communications Workers of America (CWA) in the Northeast and Mid-Atlantic regions and at Verizon Connected Solutions voted last Friday to ratify a four year extension of their current contracts, which were set to expire in August 2019.
DC 37 members voted overwhelmingly for a contract that provides for a total wage increase of 7.42 percent and preserves their premium-free health-care coverage with no givebacks. Members voted 31,133 in favor and 743 against the contract, an approval rating of 97.6 percent.
Yesterday, Verizon workers represented by the Communications Workers of America (CWA) and the International Brotherhood of Electrical Workers (IBEW) announced a tentative agreement on a four year extension of the current contract, which was set to expire in August 2019.