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


  • Ruben Bauer Naveira
    The Global Food Crisis
    22 Jul 2026
    Faced with the blockade of vital oil routes, the extreme dependence of modern agriculture on fossil fuels foreshadows not only high prices but also a food shortage capable of generating global social…
  • Carlos Aznárez
    Zionist Expansionism in Latin America
    22 Jul 2026
    Free trade deals, water contracts, and military training programs are quietly binding one Latin American government after another to Tel Aviv.
  • Devin B. Martinez
    ICE Killings Fuel Nationwide Protests
    22 Jul 2026
    Recent killings at the hands of federal agents have fueled protests across the US, including a nationwide day of action on July 18.
  • Noah Hurowitz
    Trump’s Sanctions Against the ICC Are Unconstitutional, Rights Groups Say
    22 Jul 2026
    The human rights groups’ suit came as the Trump administration vowed to destroy the International Criminal Court entirely.
  • John Parker
    Supreme Court targets Voting Rights Act of 1965 – denying justice and peace
    22 Jul 2026
    The fight for the ballot has always been tied to a wider war against Black political power, against workers, against the people paying for empire abroad and austerity at home.
  • Load More
Subscribe
connect with us
about us
contact us