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


  • Jamarl Thomas
    Black Agenda Radio with Margaret Kimberley
    The Death of DEI with Jamarl Thomas
    31 Jan 2025
    Margaret Kimberley was recently a guest on Jamarl Thomas's YouTube podcast. She discussed her latest Black Agenda Report article on “The Death of DEI.” The issues surrounding DEI are contradictory.…
  • Margaret Kimberley, BAR Executive Editor and Senior Columnist
    The Death of DEI
    29 Jan 2025
    Black people must be discerning about racist attacks on DEI programs while also acknowledging that “diversity” can be a con that damages Black politics, just as it was meant to do.
  • Editors, The Black Agenda Review
    POEM: Note to All Nazis, Fascists and Klansmen, Langston Hughes, 1943
    29 Jan 2025
    Langston Hughes’s 1943 poem against fascism is precise, droll, and eternal.
  • Ann Garrison, BAR Contributing Editor
    Why Hasn’t the UNSC Sanctioned Rwanda or Referred Its President to the ICC?
    29 Jan 2025
    The UN Security Council (UNSC) has never sanctioned Rwanda or referred its president to the International Criminal Court (ICC), despite decades of UN documentation of their international crimes in…
  • Clau O'Brien Moscoso
    Dollarization in Ecuador: How the Safest Country in Latin America Became a Money Laundering Transnational Crime Hub
    29 Jan 2025
    Ecuador was once a safe country. However, U.S. interference, the rise of neoliberal economic policies, the dollarization of its currency, and enhanced state repression have combined to worsen the…
  • Load More
Subscribe
connect with us
about us
contact us