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:
Workers at Verizon, members of Communication Workers of America (CWA) Local 1101, took to the streets on Thursday to demand a fair contract. After over nine months of bargaining, Verizon still refuses to negotiate a fair contract for 39,000 workers across the Northeast.
On Thursday, more than 40 CUNY faculty and staff members locked arms and blocked the doors in front of Governor Cuomo's Manhattan office. The "die-in" was designed to Highlight the demand for increased investment in CUNY in the State budget.
After nine months of bargaining, Verizon is still refusing to negotiate a fair contract for 39,000 workers across the Northeast.
Join #CUNYRising for a rally, march, and meeting to call for investments in CUNY students, faculty, and staff.
Join thousands of workers from across the state as they converge on the Capitol Building in Albany, NY to demand a $15 minimum wage.
Transportation will be provided as necessary, please click the link below to reserve a seat.
To NYC labor, immigrant rights activists, students and all defenders of workers’ rights: The owners of Bröd Kitchen are going all out in their drive to break the workers’ union, firing the union president and moving to decertify the union. This is an attack on all of us.