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


  • Black Agenda Radio
    Black Agenda Radio with Margaret Kimberley
    Black Agenda Radio November 1, 2024
    01 Nov 2024
    In this week’s segment, we hear about the U.S. government's censorship of the news and the end of Radio Sputnik. We also hear Margaret Kimberley at a Julian Assange freedom celebration and the…
  • Green Party of NY logo
    Black Agenda Radio with Margaret Kimberley
    Green Party of New York Wages Write-In Campaign for Voter Choice and Ballot Status
    01 Nov 2024
    We’re joined by Peter Lavenia, co-chair of the Green Party of New York. He explains why there is this lack of choice in the New York elections and how voters can choose the Green Party presidential…
  • The Critical Hour
    Black Agenda Radio with Margaret Kimberley
    US Censorship and the End of Radio Sputnik
    01 Nov 2024
    Garland Nixon is a veteran journalist and the former co-host of the program The Critical Hour, once heard on Radio Sputnik before that outlet disappeared from the airwaves. Garland Nixon joins us to…
  • Assange Defense
    Black Agenda Radio with Margaret Kimberley
    Julian Assange Freedom Celebration
    01 Nov 2024
    Margaret Kimberley, Black Agenda Report Executive Editor, spoke at an event in Berkeley, California celebrating the release of political prisoner Julian Assange. She connected his case with that of…
  • Margaret Kimberley, BAR Executive Editor and Senior Columnist
    Trump Rally, Washington Post and Michelle Obama Generate Fake Outrage
    30 Oct 2024
    Liberals love to indulge in performative virtue signaling rather than serious political conviction. Recent events proved that their highest priority is maintaining alliances with the Democratic Party…
  • Load More
Subscribe
connect with us
about us
contact us