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
    The Green Zone of Controlled Opposition (Or, How The U.S. Climate Network Became Agents of Climate Inaction)
    06 Aug 2025
    The U.S. climate movement claims to fight for change while systematically silencing radical action. This isn’t resistance. It’s controlled opposition dressed in green.
  • Roberto Sirvent, BAR Book Forum Editor
    BAR Book Forum: Karen Antoinette Scott’s Book, SACKRED Birth
    06 Aug 2025
    In this series, we ask acclaimed authors to answer five questions about their book. This week’s featured author is Karen Antoinette Scott.
  • Black Alliance For Peace
    BAP Condemns the Zionist Brutalization and Detainment of Chris Smalls, Emblematic of the White Supremacy at the Core of Zionism
    06 Aug 2025
    The arrest and assault of Chris Smalls is about more than the repression of any effort to subvert the genocidal blockade on Gaza; it exposes Israel’s attempt to sever Black and Palestinian solidarity…
  • Vijay Prashad
    Unilateral and Illegal Sanctions – Mainly by the United States – Kill Half a Million Civilians Per Year: The Thirty-First Newsletter (2025)
    06 Aug 2025
    A study in The Lancet estimates that unilateral sanctions have caused as much death as wars, with an estimated half a million deaths per year.
  • Pindiga Ambedkar , Arnold August
    Were Canadian Elections Existential in the Context of US-Canada Tensions? (Part 2)
    06 Aug 2025
    Interview with Arnold August, writer, political commentator, and analyst of the North American continent, on the political situation in Canada and its relationship to the US.
  • Load More
Subscribe
connect with us
about us
contact us