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


  • International Coalition to Stop Genocide in Palestine
    Call to Action: The ICGSP Denounces Israel's Brutal Attacks on Rafah
    05 Jun 2024
    The ICGSP put out this call for movements around the world to support the university movement for Gaza solidarity.
  • AsheNews
    An Open Letter to William Ruto, By Ngũgĩ wa Thiong’o
    05 Jun 2024
    Kenyan President William Ruto is serving the role of a comprador facilitating the continued colonization of Kenya and betraying the revolutionary history of their people.
  • Abayomi Azikiwe
    State Repression and Palestine Solidarity
    05 Jun 2024
    The destruction of encampments and the arrests of more than 3,000 students and faculty members have not stopped the movement for divestment.
  • Omar Karmi
    Rudderless, Incompetent and Complicit
    05 Jun 2024
    The U.S. policy regarding the genocide in Gaza is one of incompetence and duplicity.
  • Black Alliance For Peace
    Afghanistan News Update #22 May 27th, 2024
    05 Jun 2024
    Afghans for a Better Tomorrow discuss the current state of Afghanistan and their work organizing against U.S. imperialism.
  • Load More
Subscribe
connect with us
about us
contact us