Confronting New York City's Retirement Crisis
Tuesday, June 17, 2014 from 8:00 AM to 12:30 PM (EDT)
As we continue to recover from the effects of the recession, New York City and the United States are in the midst of a retirement crisis. Currently, 59% of New Yorkers lack access to a retirement plan. Of those who have a policy—either a defined contribution or a defined benefit plan—the majority have less than $30,000 for their retirement. With an average annual benefit of only $15,528 Social Security is quickly becoming an inadequate income replacement at retirement. Without a supplemental income, many individuals will spend the later years of their lives in poverty, adding expenses to constrained working families, and require support from government at all levels.
To address the crisis of retirement security in an effectual, innovative way, the New York City Central Labor Council, AFL-CIO, is partnering with the Schwartz Center for Economic Policy Analysis (SCEPA) at The New School. We hope to lead a broad coalition of stakeholders in the City's economic and social future. A strong coalition with organized labor, academia, business, elected officials, and community residents, we could change the conversation—and by extension the optics—surrounding retirement policy. To create effectual change for the working people of New York City, we have to build new, long-lasting relationships around critically important issues.
We invite you to join us on Tuesday, June 17th, from 8:00 am until 12:30 pm, for a conference on retirement security. The event will take place in The New School’s Wollman Hall, located on the fifth floor of 65 West 11th Street. Joined by the City and State Comptrollers, the conference will delve into both the problems and solutions to New York City’s retirement security crisis. We can come together to both create broad-based prosperity, individual financial security, and increased economic activity.
Please join the conversation on Twitter @SCEPA_economics and @CentralLaborNYC using #RetireNYC.
When & Where
Schwartz Center for Economic Policy Analysis (SCEPA)
The Schwartz Center for Economic Policy Analysis (SCEPA) works to bring reality into conventional economics. An economic policy think tank within The New School's Department of Economics, we provide scholars, non-profits, and government officials with research on key policy issues.