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


  • Anthony Karefa Rogers-Wright
    Synergy of the Sacrificed: Katrina and the Praxis of Imperial Domination
    27 Aug 2025
    Twenty years after Katrina, the disaster stands not as an anomaly but as a blueprint. Its aftermath reveals a template for imperial domination, where "natural" disasters become pretexts for…
  • ​​​​​​​ Ajamu Baraka, BAR editor and columnist
    "Inequality in Kenya: View from Kibera" Documentary Premieres August 28
    27 Aug 2025
    Join political activist and Black Agenda Report’s contributing editor Ajamu Baraka and members of the Communist Party Marxist-Kenya on a trip to Kibera, Africa’s largest slum.
  • Raymond Nat Turner, BAR poet-in-residence
    Ethnic cleansing called Katrina
    27 Aug 2025
    "Ethnic cleansing called Katrina" is the latest from BAR's Poet-in-Residence.
  • Jaribu Hill
    Solidarity, not Charity—End Jim Crow Recovery—Restore All Communities
    27 Aug 2025
    Jaribu Hill, Executive Director of the Mississippi Workers’ Center for Human Rights, recounts the aftermath of Hurricane Katrina on the Gulf Coast and the efforts to organize on behalf of the people.
  • Glen Ford, BAR Executive Editor
    Katrina: The Rich Folks' Opportunity and Our Dismal Failure
    27 Aug 2025
    "Racism showed its ass in the days after August 29, 2005."
  • Load More
Subscribe
connect with us
about us
contact us