Posts tagged Retirement
Boeing strike costs top $1.4 billion as pressure on company mounts
September 27, 2024 // The second week of the strike was more costly than the first, “as is typical for major industrial strikes,” Anderson noted. After union members overwhelmingly voted to reject an initial contract proposal earlier this month, the IAM refused to vote this week on Boeing’s “best and final offer” that included a 30 percent pay hike and a $6,000 contract ratification bonus, double the initial offer.
Boeing union members are angry they lost their pension plan. They’re not likely to get it back
September 24, 2024 // But the fact is that the traditional pension plans, once a staple of the retirement of many workers, have become exceedingly rare in the modern American workplace. And once a company drops traditional pensions plans to shift employees to a 401(k) type of retirement account, they are almost always gone for good. While other unions have also sought to have lost pension plans restored, as the United Auto Workers union did during its successful strike at General Motors, Ford and Stellantis last fall, no American union has ever succeeded in bringing them back. Even though the auto strike produced a deal with record pay raises and other gains for the UAW, it did not restore pension plans to workers hired since 2007.
Union Workers at Boeing Could Be Preparing to Strike
September 3, 2024 // The contract that Boeing has with about 32,000 union workers expires on Thursday, September 12th. A union leader stated that Boeing and it’s workers disagree on several issues including wages, health care, retirement, and time off. Boeing stated that it will continue to bargain with the union in good faith, and that they’re confident that a deal can be reached.
The NEA Faces an Unexpected Labor Adversary—Its Own Staff Union
June 24, 2024 // Outside of the National Education Association’s building on the city’s busy 16th Street thoroughfare, staff members marched with signs reading “Uphold union values” and “NEA: practice what you preach.” Other staffers made runs supplying snacks and water in the sweltering heat; staffers had organized shifts to keep the strike on pace until 5 p.m. The one-day work stoppage comes ahead of the NEA’s upcoming Representative Assembly, which will draw thousands of union members to Philadelphia over the Fourth of July weekend to vote on the union’s budget and priorities for 2024-25.
Op-Ed: SEIU Brings Progressive Union Politics to Philly
June 4, 2024 // While serving as president of SEIU Local 2015, Verrett faced one of the largest union staff labor strikes in American history after accusations of union-busting, surveillance, assault, and intimidation. Verrett’s dedication to SEIU’s progressive politics, however, is unmatched. In the words of the union’s new leader, America’s “ugly, insidious, anti-black racist structures” inform her decision to make “eradicating structural and anti-black racism a core strategy” of union operations.
Latinas, the lowest-paid group in the U.S., turn to unions for better wages, report says
May 28, 2024 // Latinas are the lowest paid demographic in the United States, one of the reasons union membership among them is increasing, bucking the national downward trend of at least four decades, according to a report released this week by the National Women's Law Center (NWLC). The document, a fact sheet on union membership analyzing relevant trends among workers from all demographics in the United States, highlights that through 2023 women made up almost half of union members (45.6%).
UAW negotiates to increase number of GM workers eligible for buyout program
May 24, 2024 // Booth added the union still has not negotiated "immediate eligibility" for all 545 skilled trades workers wanting to take the offer. Only 142 were immediately eligible in this first phase, Booth said. "We’re still fighting to win an expansion on that number. At GM, we have a shortage of skilled trades workers, a problem which will require creative solutions on the company’s part, and an expansion of their apprenticeship programs," he said. "We’re going to continue to fight for our skilled trades members who want to retire. And to be clear, every single member who is eligible to retire will have the opportunity to receive the $50,000 SAP during the life of this contract, skilled trades and production."
My Congressional Testimony: Flexible Benefits for a Flexible Workforce
April 17, 2024 // My testimony today focuses on legalizing independent contractors’ access to fringe benefits. My three key points are: 1. Independent contractors lives would be enhanced if they had access to benefits. 2. States are experimenting with various portable benefits models so that workers care not forced to choose between structured employment with benefits or flexible work without benefits. 3. Federal policy can provide a safe harbor for state and local experimentation with these portable benefits systems.
A New Law Could Affect Your Retirement Side Hustle Income
April 10, 2024 // Kavin owns her own freelance writing and editing business in New Jersey and leads Fight For Freelancers USA, a nonpartisan coalition of freelancers from across the country that spans professions from translation to interior design. Around 20% of group members are ages 55 to 64 and nearly 10% are age 65 and older. Some members turned to freelancing after suffering age discrimination that cost them a traditional job, says Kavin. "They still want to work and earn, and the way they're able to do it is as independent contractors," she says. Kavin says she does well as a freelancer and does not want a traditional job, even if she could find one at her age. "It's a lot harder to find a traditional job in your 50s than in your 30s, especially one with the significantly higher level of income that I've been able to achieve as a freelancer," she says. "If I lose this self-employed business that I just spent 20 years building up, there may be no other place for me to go."