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


  • Joy James
    Black Agenda Radio with Margaret Kimberley
    Confronting Counterinsurgency: Cop Cities and Democracy's Terrors
    12 Sep 2025
    Joy James is a scholar and a political philosopher who works with organizers. She is editor of the new book Confronting Counterinsurgency: Cop Cities & Democracy’s Terrors, which is published by…
  • Margaret Kimberley, BAR Executive Editor and Senior Columnist
    Super Predators, Born Criminals, and the Black Misleadership Class
    10 Sep 2025
    The treachery of the Black misleadership class knows no bounds. While Trump’s latest racist dog whistle about “born criminals” is condemned, double-talking scoundrels may pretend to be horrified…
  • ​​​​​​​ Ajamu Baraka, BAR editor and columnist
    Extended Remarks from UNAC Webinar: Troops Out of Our Cities! ICE Out of Our Communities! September 7, 2025
    10 Sep 2025
    The Trump administration’s declaration of war on American cities is a logical escalation of the white supremacist project. This is not a policy shift but a clearer revelation of the settler state's…
  • Editors, The Black Agenda Review
    POEM: The King Alfred Plan, Gil Scott-Heron, 1972
    10 Sep 2025
    “...white paranoia is here to stay/The white boy's scheming night and day/What you think about the King Alfred Plan?”
  • Ann Garrison, BAR Contributing Editor
    Ethiopia: National Aspiration, Identity, and the Grand Ethiopian Renaissance Dam
    10 Sep 2025
    “Ethiopia just changed the continent of Africa forever.” - African development economist and electricity activist 
  • Load More
Subscribe
connect with us
about us
contact us