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


  • Lylla Younes
    Black Residents in Cancer Alley Try What May be a Last Legal Defense to Curb Toxic Pollution
    23 Oct 2024
    In St. James Parish, a zoning ordinance divides industrial development along racial lines.
  • Justin Podur
    Yahya Sinwar Wrote His Own Story
    23 Oct 2024
    Yahya Sinwar was a man who became a larger-than-life symbol of Palestinian resistance and struggle. Myths and rumors surrounded him in life and now in death but he did not need anyone, friend or foe…
  • Austin Cole
    Municipalism, Economic Development, and People Power for Participatory Democracy – A Conversation with Nicholas Richard-Thompson, Part I
    23 Oct 2024
    As part of this research on grassroots economic projects toward Black Liberation, Austin Cole spoke with Nicholas Richard-Thompson about his community organizing, expanding definitions of…
  • Umar A Farooq
    'Genocide Must Be Our Red Line': Black Muslim Leaders Shun Harris for US President
    23 Oct 2024
    Community leaders sign statement backing candidates supporting Gaza ceasefire and arms embargo against Israel.
  • Cody Bloomfield
    The State Is Wielding Grand Jury Subpoenas Against Cop City Activists
    23 Oct 2024
    Activists organizing against the militarized police training facility in Atlanta are facing new forms of repression.
  • Load More
Subscribe
connect with us
about us
contact us