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:
The AGMA-represented dancers and stage managers of Alvin Ailey rallied with supporters yesterday as part of their fight for a fair contract with pay and benefits that meet industry standards.
In response to a formal rulemaking petition from the Independent Drivers Guild (IDG), New York City’s Taxi and Limousine Commission (TLC) stated it plans to put forward rules on industry-wide for-hire vehicle driver income and pay transparency later this summer.
The New York City labor movement joins in mourning the passing of Thomas Van Arsdale on May 20th. Thomas, the son of legendary labor leader Harry Van Arsdale, Jr., was an active trade unionist throughout his life as a member of Local 3 International Brotherhood of Electrical Workers.
Join our brothers & sisters in the NYC Building Trades as they gather in Union Square to tell greedy developers putting profit over people that NYC is a Union Town!
This is the NewsGuild’s first attempt to bring the fight right to Alden Global Capital’s doorstep in NYC. Our purpose is to expose Alden’s conduct, and demand an investment in our newspapers, or sell them.
Can you imagine trying to get by on a near-minimum wage job that only schedules you for one day a week? That is the reality for many workers at the popular New York City mover Two Men And A Truck.
The Workers Unite Film Festival is a celebration of Global Labor Solidarity.
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.