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


  • Mark P. Fancher
    The Foolish, Futile Struggle to be Both African and American Will be Televised
    29 Jul 2026
    Black is beautiful woke up a generation, and it is time for another awakening that abandons American identity and embraces African authenticity.
  • Ramzy Baroud
    The Spark in Tell: How a Village Resistance Disrupted Israel’s West Bank Strategy
    29 Jul 2026
    The West Bank will not remain silent forever; it will rise at the time and place of its people’s choosing, rendering conventional political forecasts useless.
  • Gary Wilson
    House votes to lock Israel into U.S. war machine for wider war
    29 Jul 2026
    The House just voted to permanently fuse the U.S. and Israeli military industries. While this may be interpreted as Israel seizing control of the American war machine, it really was the American war…
  • Bertin M. Louis, Jr.
    Anti-Haitianism: A Hemispheric Rejection of Black Humanity
    29 Jul 2026
    From the United States to the Dominican Republic to the Bahamas, the violence, collective scapegoating, and mass deportation of Haitians lay bare a particular kind of anti-Blackness. Anti-Haitianism…
  • Sharon Kyle
    Cuba Is Being Punished for Refusing Dependency
    29 Jul 2026
    Baba Akili and Thandiwe Abdullah returned from Havana with an eyewitness account of empty streets, failing hospitals and a people enduring the latest chapter of a long U.S. campaign against Caribbean…
  • Load More
Subscribe
connect with us
about us
contact us