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


  • Victory for Chicago Police District Councils
    Black Agenda Radio with Margaret Kimberley
    Victory for Chicago Police District Councils
    10 Mar 2023
    Frank Chapman is Executive Director of the National Alliance Against Racist and Political Repression. That organization led the fight for community control of the police, with the creation of the…
  • How Comrades Revealed the Existence of COINTELPRO
    Margaret Kimberley, BAR Executive Editor and Senior Columnist
    How Comrades Revealed the Existence of COINTELPRO
    08 Mar 2023
    On March 8,1971 a brave group of people revealed the extent of FBI spying, harassment and even the killings of US citizens. More than 50 years later we would do well to remember the significance of…
  • EDITORIAL Dedicated to Women in Struggle, African Agenda, 1974
    Editors, The Black Agenda Review
    EDITORIAL Dedicated to Women in Struggle, African Agenda, 1974
    08 Mar 2023
    Revisiting a 1974 editorial on Black women and the international struggle against patriarchy, racism, imperialism, and capitalism on International Women’s Day.
  • US Shoots Itself in the Foot in Africa
    Ann Garrison, BAR Contributing Editor
    US Shoots Itself in the Foot in Africa
    08 Mar 2023
    In Africa as in the rest of the world, US machinations undermine its goals and bring other nations together as they seek to protect themselves from a desperate empire.
  • For Larry Roland
    Raymond Nat Turner, BAR poet-in-residence
    For Larry Roland
    08 Mar 2023
                                                           …
  • Load More
Subscribe
connect with us
about us
contact us