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:
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Twenty construction workers died on the job in New York City in 2021, according to a new NYCOSH report released this week, with the pace of fatalities rising back to pre-pandemic levels after a year of industry shutdowns.
Members of the Professional Staff Congress (PSC), the union of CUNY faculty and professional staff, will rally before work outside CUNY Central (205 E. 42nd St.) the morning of Monday, February 27, the day before their contract expires. Arrive at 7:30 AM. Rally begins at 8 AM.
Workers from the YouTube Music content operations have been organizing to build power in their workplace.
In response to these workers exercising their legally protected rights, their employers Google & Cognizant are retaliatiing against them.
The New York City musicians' union, AFM Local 802, has announced a strike against Distinguished Concerts International New York, a for-profit company that produces concerts at Carnegie Hall and Lincoln Center and that boas
The New York City musicians' union, AFM Local 802 has announced a strike against Distinguished Concerts International New York, a for-profit company that produces concerts at Carnegie Hall and Lincoln Center and that boasts a roster of 257 musicians.
The collective bargaining contract for city workers expired in May 2021, and the last time these public servants received a pay increase was in 2019– long before hundreds of municipal workers lost their lives to COVID-19 while showing up to make New York City run.