Posts tagged Retirement
Why Independent Workers — and the Companies That Hire Them — Need Portable Benefits
June 5, 2026 // Instead, one theme comes through clearly: Workers want benefits without giving up their current, flexible careers. Surveys say the same thing. Bureau of Labor Statistics data shows that only 8.3 percent of independent workers prefer a traditional employment arrangement, while more than 80 percent prefer their current work arrangement. At the same time, 4 out of 5 want access to benefits. That’s why it’s so encouraging to see portable benefits gain momentum and bipartisan buy-in: Kansas and Utah are among the eight states that have enacted reforms, Hawaii and Connecticut are among those considering it, and legislation has appeared in Congress as well. Reforms are advancing in states that prioritize the business environment and in others that focus on worker protection, because they expand access to benefits while remaining voluntary and market-oriented.
Hochul proposes $500M pension sweetener as she battles unions in budget stand-off
May 11, 2026 // Still, whatever deal is struck is likely to put a major strain on local governments, schools, public hospitals and law enforcement — which risk a mass exodus that could lead to service cuts. The cost of Albany’s public pension giveaway will also translate into higher property taxes and school taxes for New Yorkers.
New York unions say fixing Tier 6 will drive hiring. Data suggests otherwise.
April 19, 2026 // The situation in Albany, where retirement costs account for about 9% of the city's budget, underscores a reality for many cash-strapped local governments across New York. And the dire financial outlooks are in place as state lawmakers weigh whether to address changes to the Tier 6 state pension system. Rochester, for example, is facing a budget gap of $131 million, the largest in the city's history. Rochester's largest expenditure is its increasing pension and health care costs. Those projected pension costs for the next fiscal year are $74 million. Health care costs for active and retired employees have escalated to $108 million. "This budgetary framework is simply not sustainable," Mayor Malik D. Evans told a state legislative panel last month. "And it threatens the incredible momentum we're making toward violence reduction, job creation, workforce development, affordable housing, home ownership, economic
A giant barrier to being self-employed is falling, state by state
April 13, 2026 // As more states pass permanent reforms, millions of independent contractors could gain access to benefits they’ve never enjoyed. But states aren’t the only ones that can act. Congress could also amend federal law so that companies may offer benefits without facing liability. Sen. Bill Cassidy (R-Louisiana) and Rep. Kevin Kiley (I-California) have introduced bills to that effect in their respective chambers. They deserve the support of the full Congress and the White House in giving millions more workers long-term financial security along with the flexibility that self-employment provides. The portable benefits revolution can’t sweep the nation fast enough.
Op-ed: New Options for Your 401(k)
April 1, 2026 // The law doesn’t allow ulterior motives to infect plan investments. The duty to invest for the sole financial benefit of plan participants doesn’t allow fiduciaries to pursue political agendas or engage in self-dealing. The Labor Department will be ready to enforce the law if plan fiduciaries act with a disloyal motive or threaten the retirement security of American workers. The department isn’t promoting any particular investment option. We aren’t picking winners and losers. We are leveling the playing field so that plan fiduciaries can exercise their judgment—selecting plan investments without fear of undue liability. We are applying the principle-based rules that the law requires.
As Michigan’s childcare costs rise, workers debate risks of unionizing
March 31, 2026 // Instead of childcare workers unionizing against owners, the model most commonly seen in childcare unions across the country is owners unionizing against their state, as Henderson is advocating for — specifically, childcare owners who receive state reimbursement payments for care they provide low-income families and therefore can be considered state employees. The purpose is to get more robust and permanent public dollars through contract negotiation to fund things providers say they can’t currently afford because of limits on their revenue, like higher wages, insurance benefits, and overall more stability for the struggling industry. Critics of this model say childcare providers shouldn't be considered public employees just because they receive payments from the state or put in a position where they may feel they have to pay union dues. They also say the fractured layout of the industry doesn't lend itself well to unionization and could create division among already under-resourced owners and staff.
Some PECO workers could strike soon as union contract expires
March 31, 2026 // A company representative sent Action News the following average salaries with overtime for certain positions in 2025: Lineman: $243,569 Customer Service Representative $117,887 Gas Mechanic $146,470 Transmission & Substation Mechanic $159,548 However, Lawrence Anastasi, the president and business manager of IBEW Local 614, said those numbers don't tell the whole story. He said the union wants retirement benefits for its members.
Teamsters terminate agreement, strike at Smurfit Westrock site set for closure
March 26, 2026 // The company says the union terminated the two parties’ labor agreement at the Wakefield, Massachusetts, corrugated converting plant.
Union for First Student authorizes strike if no deal is reached on contract negotiations by March 31
March 26, 2026 // The union for First Student has authorized a strike for drivers and employees if contract negotiations fail. The Teamsters union represents more than 17,000 workers nationwide, including bus drivers in New Hampshire.
States Lead the Way on Portable Benefits and Flexible Work
March 24, 2026 // The momentum behind portable benefits reflects the strength of a growing network of organizations and leaders committed to modernizing workforce policy. Americans for Prosperity has worked in conjunction with a diverse range of state and national organizations including the Mercatus Center, Libertas Institute, Institute for the American Worker, Independent Women, R Street Institute, and more from state to state. With research, data, examples of those who would benefit, and a dose of optimism, the educational outreach to highlight how beneficial these reforms are to American families has created a surge of interest among state lawmakers who increasingly understand this golden opportunity to help their residents thrive in today’s economy including shifts due to the rise of AI and other technology.