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


  • Margaret Kimberley, BAR Executive Editor and Senior Columnist
    The Ultimate Betrayal of Alex Saab and the Fate of Nicolás Maduro and the Venezuelan People
    16 Sep 2026
    The United States got its hands on Alex Saab a second time in order to use him in its case against Nicolás Maduro. The U.S. succeeded in getting a guilty plea from Saab, but the current Venezuelan…
  • Editors, The Black Agenda Review
    COMMENTARY: The Shrinking American Empire, Glen Ford, 2009
    16 Sep 2026
    “The Iraq invasion greatly accelerated the process of U.S. imperialism’s decline.”
  • ​​​​​​​ Ajamu Baraka, BAR editor and columnist
    Black Radicalism and the Return of the “Subversive Negro”
    16 Sep 2026
    NSPM-7 and the State Department's international campaign against "far-left political terrorism" represent new and more dangerous forms of domestic repression in the 21st century, while reconstructing…
  • Roberto Sirvent, BAR Book Forum Editor
    BAR Book Forum: Colin Kaepernick’s “The Perilous Fight”
    16 Sep 2026
    In this series, we ask acclaimed authors to answer five questions about their book. This week’s featured author is Colin Kaepernick.
  • Anthony Karefa Rogers-Wright
    A Climate “Movement” Homonym: (Or, How the Big Apple’s Annual Environmental Gathering Surfaces an Imperative Inquiry, Climate Week or Climate Weak?)
    16 Sep 2026
    The climate movement has been captured by a professional managerial class that prefers charity galas and virtue signaling to building power.
  • Load More
Subscribe
connect with us
about us
contact us