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.
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For more information, please call Brendan Griffith at (212) 604-9552
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Members of the District Council of Carpenters have been on strike against the Manufacturing Woodworkers Association. The location of their picket line is below. Please come out to show your support!
Proposed Contract Would Hurt New Hires Through Tiered Compensation System
Join our brothers and sisters from Teamsters Local 237 representing NYC Housing Authority workers as they rally on July 2nd, to defend good jobs, programs and services from devastating sequestration cuts.
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The New York City Council has created a unique partnership linking labor unions, community groups and a network of respected workforce providers to mobilize efforts that will benefit job seekers, the under employed and the unemployed New Yorkers.