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 Broadway Presbyterian Church was packed on Wednesday morning as GWC-UAW Local 2110, the union of Columbia University’s graduate workers and teaching assistants, held a forum about their campaign.
On Thursday, organized labor in digital media counted a major victory.
Two weeks ago, long-time Teamster Local 813 member Eber Garcia Vasquez was deported. The Teamsters are continuing to work with his attorney and advocates to expedite his Green Card application so he can return to the U.S. and be reunited with his family.
This November, New Yorkers will be asked whether or not to hold a Convention to amend our state’s constitution. Important labor protections like collective bargaining, prevailing wage, workers' compensation, and public pensions would be on the chopping block.
Join your allies in the NYC Labor Movement to knock on doors and educate you fellow members about the need to VOTE NO on a Constitutional Convention.
A flyer is attached below.
Today is the day for NYC Labor to come together in solidarity with the 1,800 striking cable workers, march across the Brooklyn Bridge, and rally in Foley Square. The workers at Charter/Spectrum have been on strike for six months, and we are with them in their fight for a fair contract.
Each Labor Day, Ruth Milkman and Stephanie Luce of the Joseph S. Murphy Institute for Worker Education and Labor Studies release their annual State of the Unions. The report includes a comprehensive profile of organized labor at the city, state, and national level.