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


  • Ann Garrison, BAR Contributing Editor
    Ethiopia: National Aspiration, Identity, and the Grand Ethiopian Renaissance Dam
    10 Sep 2025
    “Ethiopia just changed the continent of Africa forever.” - African development economist and electricity activist 
  • Raymond Nat Turner, BAR poet-in-residence
    Department of War: What’s new is so old
    10 Sep 2025
    "Department of War: What’s new is so old" is the latest from BAR's Poet-in-Residence.
  • Tamanisha John
    The Historical and Contemporary Role of Neocolonial Caribbean Governments in Supporting US Militarism and Imperialism in the Region
    10 Sep 2025
    Turning the Caribbean into a US bombing range requires local collaborators. Neocolonial governments have volunteered to play this role, betraying their people's right to peace and sovereignty.
  • Tracie Canada
    Roberto Sirvent, BAR Book Forum Editor
    BAR Book Forum: Tracie Canada’s Book, “Tackling the Everyday”
    10 Sep 2025
    In this series, we ask acclaimed authors to answer five questions about their book. This week’s featured author is Tracie Canada.  Canada is the Andrew W. Mellon Assistant Professor of…
  • Anthony Karefa Rogers-Wright
    The Second Africa Climate Summit Reveals The New Face of Colonialism; Technocrats and Cryptocolonization (Part 1, The Setting).
    10 Sep 2025
    The Africa Climate Summit is a greenwashing front for a new wave of colonialism. Under the guise of "nature-based solutions," corporations like the Gates Foundation are pushing schemes that will turn…
  • Load More
Subscribe
connect with us
about us
contact us