Retirement Security
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:
NEW YORK, April 27, 2023 — The New York City Central Labor Council, AFL-CIO (NYC CLC), representing 300 unions and 1.3 million members, including more than one million registered voter households across New York City, today announced its first round of endorsements for the 2023 N
Julie Su has made a career out of representing not only workers, but the most vulnerable workers in America. Her record speaks for itself. As a young attorney representing trafficked Thai garment workers outside of Los Angeles, she won $4 million in stolen wages.
Striking workers of the Hispanic Society Museum & Library, an Upper Manhattan institution dedicated to Portuguese and Spanish art, staged an action outside the Upper East Side residence of Board Chair Philippe de Montebello this week, with support from their UAW siblings from across the City.
Stressing the service and sacrifices made by transit workers throughout the COVID-19 Pandemic, TWU Local 100 President Richard Davis kicked off contract negotiations with the MTA this week with a presentation of general
Actors' Equity Association and The Broadway League Reach Tentative Agreement on New Touring Contract
Actors’ Equity Association, the national union representing more than 51,000 professional actors and stage managers working in live theatre, and The Broadway League, the national trade association for the Broadway industry, announced yesterday that they have reached a new, three-year collective b
Tens of thousands of people who work for New York City will soon get their first raise since the COVID-19 pandemic. Members of the city’s largest municipal employee union – AFSCME District Council 37 – earlier this month voted 97.7% in favor of the citywide economic contract.
The New York City Council this week resoundingly passed a resolution demanding Wendy’s join the Fair Food Program, a groundbreaking initiative that guarantees the rights of farmworkers on farms under its protection.
More than 40 progressive organizations, including the AFL-CIO, Sierra Club, Women’s March, and GreenPeace, have voiced their support for unionizing Starbucks workers in a letter to the company’s new CEO, Laxman Narasimhan.
Join the New York City Central Labor Council, AFL-CIO, and the New York Committee for Occupational Safety and Health (NYCOSH) for our annual Workers’ Memorial Day event to honor those who have died or suffered injuries or illnesses while on the job, to recognize the sacrifices made by all essenti
In the latest addition to the wave of organizing sweeping NYC and universities across the US, a majority of 300 student workers at Mount Sinai’s Icahn Graduate School of Medicine have signed up to form their union, Sinai Student Workers-UAW.