Black Agenda Report
Black Agenda Report
News, commentary and analysis from the black left.

  • Home
  • Africa
  • African America
  • Education
  • Environment
  • International
  • Media and Culture
  • Political Economy
  • Radio
  • US Politics
  • War and Empire

Those Ever-Shrinking 401Ks and the Theft of Retirement Security
21 Dec 2011
🖨️ Print Article

For most of the 20th century, until the 1980s, each generation of retirees had a somewhat higher standard of living than the last.  With the Reagan era advent of federal policies encouraging private employers to raid and discontinue defined benefit pensions, that trend stopped.  The current generation of retirees are discovering that their 401Ks are almost never sufficient to allow a dignified retirement.  They've been robbed.  401Ks are subject to the stock market, which favors insiders, and financial managers and the retirement-industrial complex extract as much as a quarter of all 401K savings in parasitic fees.  In this Against the Grain interview James Russell explains why Wall Street loves privatized and individual retirement accounts, and hates defined beneift pensions and social security,



Your browser does not support the audio element.

listen
http://www.againstthegrain.org/files/files/atg/atg_2014.11.12_401ks.mp3

More Stories


  • Danny Shaw
    Columbia Students vs The State
    15 May 2024
    Columbia alumnus, former professor, and organizer, Danny Shaw, recounts his experience at the Columbia University Gaza Solidarity Encampment organizing with students.
  • Krys Cerisier
    South Africa’s Case Against Israel and the (Il)Legitimacy of World Governance
    15 May 2024
    The U.S. and the West as a whole maintain dominance over the Global South through their control of international institutions they wield as a weapon against nations who attempt to move from…
  • Black Alliance For Peace
    The Mask is Off: The Hideous Connections Between Zionism, Colonialism, Capitalism and Genocide
    15 May 2024
    The enemies of humanity are revealing themselves. It is up to the movement to rise to the occasion and deepen the analysis of the forces at play.
  • Marie Laurette Numa
    US Appointed Haitian Transitional Council Calls for Foreign Military Intervention
    15 May 2024
    The West is continuing to push through the occupation of Haiti, otherwise known as the Multinational Security Support Mission, using the Presidential Transitional Council as cover.
  • Shawn Musgrave
    Even Biden’s Lawyers are Urging the White House to Change Course on Gaza
    15 May 2024
    An open letter from government attorneys questions the legal cover for arms transfers to Israel.
  • Load More
Subscribe
connect with us
about us
contact us