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
  • omnibus

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


  • Mengele Medicine:  Death Panels of  Boss Tweet and Pence
    Raymond Nat Turner, BAR poet-in-residence
    Mengele Medicine:  Death Panels of  Boss Tweet and Pence
    08 Apr 2020
    STOP! No testing! No testing for the infection— big, big numbers could threaten the $election! STOP! No testing for us poor, us working-class—
  • A Call to Action: Towards a General Strike to End the COVID-19 Crisis and Create a New World 
    Cooperation Jackson
    A Call to Action: Towards a General Strike to End the COVID-19 Crisis and Create a New World 
    08 Apr 2020
    We must make demands that will transform our broken and inequitable society, and build a new society run by and for us – the working-class, poor, oppressed majority.
  • Expect Police-Military Repression Amid the Crisis of COVID-19 and Its Aftermath
    Netfa Freeman
    Expect Police-Military Repression Amid the Crisis of COVID-19 and Its Aftermath
    08 Apr 2020
    The rulers are concerned about the class war becoming sharper in the current crisis and they are preparing to send in the military and police to quell dissent.
  • Letters from Our Readers 
    Jahan Choudhry BAR Comments Editor
    Letters from Our Readers 
    08 Apr 2020
    This week you discussed Black Marxism and the Bernie Sanders campaign.
  • BAR Book Forum: Xavier Livermon’s  “Kwaito Bodies”
    Roberto Sirvent, BAR Book Forum Editor
    BAR Book Forum: Xavier Livermon’s  “Kwaito Bodies”
    08 Apr 2020
    The author examines how Black youth in post-apartheid South Africa imagine freedom under tremendous systems of constraint. ​​​​​​​
  • Load More
Subscribe
connect with us
about us
contact us