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


  • x
    Yarden Azoulay Katz
    “Their Chaos is Our Peace”: Fighting Zionist Repression in Texas and Beyond
    29 Apr 2026
    Zionists continue their attacks on universities, exerting pressure to silence and terminate professors who express views in support of Palestinian liberation.
  • Jill Clark-Gollub
    Growing Calls to End Unilateral Coercive Measures
    29 Apr 2026
    The United States has made economic coercive measures, sanctions, its primary foreign policy tool, committing war by other means with a comparable death toll.
  • Zeinab Al Saffar
    Negotiations or Annihilation: Can the Resistance Be Talked Away?
    29 Apr 2026
    Israel's diplomacy with Lebanon is a fiction. The goal is complete capitulation and annihilation of the resistance, at the cost of thousands of lives.
  • Radikha Desai and Ajamu Baraka
    The State of Trump’s Union: Geopolitical Economy Hour with Ajamu Baraka
    24 Apr 2026
    In this Geopolitical Economy Hour, Radhika converses with one of the foremost left political leaders and Black political activist and journalist in the US, Ajamu Baraka. Together, they understand the…
  • BAR Radio Logo
    Black Agenda Radio with Margaret Kimberley
    Black Agenda Radio April 24, 2026
    24 Apr 2026
    In this week’s segment, we discuss the importance of including African-descended people in discussions around climate change and a just transition from fossil fuel production. But we begin with a…
  • Load More
Subscribe
connect with us
about us
contact us