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


  • Burned Muslim owned business
    Black Agenda Radio with Margaret Kimberley
    Racist Mob Attacks in Britain
    19 Jun 2026
    On June 8th, a knife attack in Belfast, Northern Ireland, in the UK, was seen on video. The assailant was an African asylum seeker, and the victim was a local white resident. In the following days,…
  • Black Agenda Radio
    Margaret Kimberley, BAR Executive Editor and Senior Columnist , Austin Cole
    The Black Alliance for Peace Calls for a Boycott of the World Cup
    17 Jun 2026
    The Black Alliance for Peace and other organizations have called for a boycott of the 2026 World Cup being held in the United States. Before any matches were played, the U.S. banned players, fans,…
  • Margaret Kimberley, BAR Executive Editor and Senior Columnist
    The Knicks and New York's Disappearing Black Communities
    17 Jun 2026
    It is true that the New York Knicks' journey to a championship brought disparate communities together, but gentrification remains the norm in the city that is the capital of capital. Black people are…
  • Editors, The Black Agenda Review
    ESSAY: Reconstruction, Seventy-Five Years After, W. E. B. Du Bois, 1943
    17 Jun 2026
    “Without the help of the American Negro, the abolition movement would have been impossible.”
  • ​​​​​​​ Ajamu Baraka, BAR editor and columnist
    “Don’t Worry Be Happy”: The World Cup as an International Psy-Op
    17 Jun 2026
    FIFA uses the World Cup to present the United States as a legitimate nation, but the U.S. is a rogue state committing crimes against humanity. The call for a boycott is a call to decolonize football…
  • Load More
Subscribe
connect with us
about us
contact us