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, workers from various sectors and industries got together to highlight a new day in New York City. Workers, parents, community groups, and Labor union representatives gathered to celebrate the end where the needs of the wealthy were unfairly placed over those of everyday people.
Join us for a mass rally and creative actions at Foley Square starting at 4:30PM to cap off an energetic day of low-wage worker actions around the city that will bring together workers, students, activists, faith leaders and everyday New Yorkers who want to fight inequality and build a stronger,
Join Wal-Mart employees, Wal-Mart Free NYC, ALIGN-NY, and supporters for a Black Friday protest against Wal-Mart’s union-busting. The group is calling for Wal-Mart to increase wages for all workers to at least $25,000 per year.
Protect Good Jobs, Consumers and the Environment: Stop the Trans-Pacific Partnership (TPP) “Free” Trade Deal
Join members of the Civil Service Technical Guild, AFSCME Local 375, DC 37 to speak against the waste of taxpayer dollars outsourced to high-paid consultants. Money direly needed for repairs is being spent on private contractors. It hurts the residents, the workers, the city and the taxpayers.
Join Build Up NYC to Rally at City Hall to call for the passing of Intro 1169, a bill that calls for training and tra
New York, NY – New York City Central Labor Council, AFL-CIO President Vincent Alvarez today released the following statement regarding the victories of Mayor-Elect Bill de Blasio, and a new, more progressive City Council:
Testament to Labor Movement’s Ability to Fight for Working Families