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


  • Ryan Kost
    A Judge Said Queens Prosecutors Hid Evidence. A Secret Committee Cleared Them Anyway.
    19 Aug 2026
    The mass incarceration system demands thousands of Black bodies behind bars. That system is maintained by prosecutorial misconduct which goes unpunished. That impunity is integral to keeping the…
  • Paul Tiyambe Zeleza
    Who Killed Jason Arday?
    19 Aug 2026
    Arday was killed by the contradiction at the heart of white elite institutions: they want the appearance of racial progress without structural change, and they readily discard Black people, even…
  • Abayomi Azikiwe
    United States and Israeli Policy Further Divides Somalia
    19 Aug 2026
    White House to cut back on United Nations assistance while there is continued military and diplomatic interference by Washington and Tel Aviv in support of Somaliland, which has not been recognized…
  • Kimberly D. Miller
    Beyond the "Delcyification" of Analysis
    19 Aug 2026
    Siege, survival, and the dialectics of Venezuelan sovereignty.
  • Ramzy Baroud
    Solidarity Is Not Enough
    19 Aug 2026
    Why the world must force accountability on Gaza now.
  • Load More
Subscribe
connect with us
about us
contact us