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Retirement Security

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.

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CEOs Get Lavish Retirement Packages While Their Workers Do Without, Report Notes

Vineeta Anand
CEOs Get Lavish Retirement Packages While Their Workers Do Without, Report Notes

Chief executive officers of the nation’s largest companies can look forward to a very comfortable retirement while most working Americans have little or no savings for their old age. The 100 largest retirement funds of CEOs are worth a total of $4.9 billion, or equal to the entire retirement savings of 41% of America's families, according to a new report released this week by the Center for Effective Government and the Institute for Policy Studies.

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