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


  • Delaney Hall
    Black Agenda Radio with Margaret Kimberley
    Racism, Mass Incarceration, Settler Colonialism and Immigration Enforcement
    29 May 2026
    The Trump administration is accelerating policies meant not just to deport undocumented people, but to restrict every avenue of legal immigration from the Global South. Abraham Paulos is Deputy…
  • Ajamu Baraka
    ​​​​​​​ Ajamu Baraka, BAR editor and columnist , José Luis Granados Ceja , Kurt Hackbarth
    'The people who most love the game won't be able to go': Ajamu Baraka on Resistance to the World Cup
    27 May 2026
    In this episode of El Taller, hosts José Luis Granados Ceja and Kurt Hackbarth sit down with Ajamu Baraka, national organizer and spokesperson for the Black Alliance for Peace, a former vice-…
  • Margaret Kimberley, BAR Executive Editor and Senior Columnist
    Making America Whiter Again: White Supremacy in Action
    27 May 2026
    There is nothing mysterious about Trump’s effort to curb legal immigration. White supremacy is the explanation.
  • Editors, The Black Agenda Review
    SPEECH: Statement at the 19th Session of the United Nations General Assembly, Ernesto “Che” Guevara, 1964
    27 May 2026
    “Cuba ... a free and sovereign state with no chains binding it to anyone...with no proconsuls directing its policy, can speak with its head held high.”
  • Ann Garrison, BAR Contributing Editor , Jamal Abdulahi
    Trump is Not Defeated in Minnesota
    27 May 2026
    Minnesota pushed back against ICE until its visible presence seemed cut in half, but Trump does not forgive or forget, and it’s a time to be organized.
  • Load More
Subscribe
connect with us
about us
contact us