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


  • Joshua Reaves Charmelus
    "You Gotta Do the Road Work": Ben Passmore on the UFC, White Nationalism, and Radical Fight Culture
    24 Jun 2026
    Joshua Reaves-Charmelus spoke with Ben Passmore to discuss the “Freedom 250” UFC event, its meaning, and the broader problem of right-wing fighting culture.
  • Mark P. Fancher
    If You are Born in this Country with Black skin, You are Already in Jail
    24 Jun 2026
    Malcolm X explained it well. Every Black person in this country is a prisoner, sometimes literally behind bars, and sometimes on the outside of jail, but a prisoner, nonetheless.
  • Beverley Waithaka
    Kenya Is Not America's Quarantine Zone
    24 Jun 2026
    The United States announced that Kenya, with the permission of a comprador government, would serve as an Ebola quarantine hub for Americans, ignoring the will of the Kenyan people and treating the…
  • North-South Project for People(s)-Centered Human Rights
    Resisting U.S. Human Rights Barbarism: The Arrest of Alyssa Philip In Trinidad and Tobago
    24 Jun 2026
    A protest leader in Trinidad was arrested during Labour Day celebrations for the crime of demanding justice for a paralyzed shooting victim. The government's willingness to silence dissent at home…
  • Isaac Saney
    Walking the Tight-Rope and Threading the Needle: Strategic Adaptation Under Siege: Cuba's Economic Reforms and the Defence of Socialist Sovereignty
    24 Jun 2026
    Washington's economic war has left Cuba with few good options. The recently announced reforms require a very thorough analysis.
  • Load More
Subscribe
connect with us
about us
contact us