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


  • Peru’s Black Misleadership Class Complicit with Coup Regime and International Far Right
    Clau O'Brien Moscoso
    Peru’s Black Misleadership Class Complicit with Coup Regime and International Far Right
    12 Jul 2023
    The U.S. isn't the only country with a duplicitous Black political class. The coup government in Peru has Black "leaders" who protect and defend the right wing who ousted an elected president and…
  • Kenya Committing Atrocities in Somalia with US Backing
    Jamal Abdulahi
    Kenya Committing Atrocities in Somalia with US Backing
    12 Jul 2023
    The US "war on terror" brought nothing but terror to the Horn of Africa. Kenya is a US client state which has spent years destabilizing Somalia under the guise of fighting terrorism.
  • Mourning Mutulu Shakur and the Black Radical Tradition that Modernized America
    Jon Jeter
    Mourning Mutulu Shakur and the Black Radical Tradition that Modernized America
    12 Jul 2023
    The late Mutulu Shakur and other Black radicals were responsible for improving the lives of millions of people in the U.S. The counter revolution ended that period of progress, but the political…
  • Mutulu Shakur
    Akinyele Umoja
    Mutulu Shakur
    12 Jul 2023
    Mutulu Shakur passed away just seven months after being paroled. Like other political prisoners he was released only when he was terminally ill. The US has more political prisoners and incarcerates…
  • Haiti – CARICOM caves in to US pressure
    A.T. Freeman
    Haiti – CARICOM caves in to US pressure
    12 Jul 2023
    The Caribbean Community (CARICOM) has succumbed to US pressure and endorsed a new invasion of Haiti.
  • Load More
Subscribe
connect with us
about us
contact us