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


  • Raymond Nat Turner, BAR poet-in-residence
    Poem For The Great Dr. Freeman (My ’19 Lemlich Nominee)
    23 Apr 2025
    "Poem For The Great Dr. Freeman (My ’19 Lemlich Nominee)" is the latest from BAR's Poet-in-Residence.
  • Jon Jeter
    Tell No Lies, Claim No Easy Victories: Liberal Media Blames Trump for Economic Woes That Began Years Ago
    23 Apr 2025
    Corporate media peddle the myth of a pre-Trump economic golden age, but for working-class Americans, especially Black families, the struggle began long before he took office.
  • Anthony Karefa Rogers-Wright
    Neo-Kautskyism: Exposing the Bernie/AOC “Fight Oligarchy” Tour de Farce
    23 Apr 2025
    Lenin called out Kautsky’s fake socialism more than a century ago—today, Bernie and AOC are playing the same game, trading radical change for liberal theatrics.
  • Tunde Osazua
    Dictating Security, Ignoring Sovereignty: The Arrogance Behind AFRICOM’s Strategy
    23 Apr 2025
    African Command's (AFRICOM) heavy-handed tactics in Africa have backfired, exposing U.S. arrogance and fueling a wave of resistance. As Sahel nations reject neocolonial bullying, Washington’s…
  • Essam Elkorghli
    NATO’s Depleted Uranium: The Health Consequences of Freedom and Democracy in Iraq, Libya and the Former Yugoslavia
    23 Apr 2025
    NATO’s depleted uranium weapons leave a deadly legacy—cancer, birth defects, and environmental ruin in war-torn regions. The silent genocide continues long after the bombs stop falling.
  • Load More
Subscribe
connect with us
about us
contact us