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.

MLB Owners Foul Ball on Worker Pensions

Mar 20, 2013 Mike Hall

What comes to mind when you think about Major League Baseball (MLB)? Multimillion-dollar ball players and even multier-million-dollar owners? Shiny new stadiums with $300 luxury VIP seating and $10 beers and $8 hot dogs for those of us in the bleachers? The $6 billion Fox Sports/Los Angeles Dodgers TV deal and others like it?

While MLB seems to be printing money faster than Topps prints baseball cards, ESPN New York reports that the club owners are considering eliminating pensions for the everyday, regular folk employees who work behind the scenes to keep the glitter dome running—club employees from office workers to trainers to minor league coaches and staff to scouts.