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


  • Manley greets a crowd
    Ann Garrison, BAR Contributing Editor , Riva Enteen
    Remembering Jamaica in the East/West Crossfire, Part II
    15 Jan 2025
    Both class and color barriers were broken down during the Michael Manley era, but class barriers re-emerged.
  • Sign of one of the children in the Guayaquil four
    Clau O'Brien Moscoso
    The War on Africans in Ecuador: an Interview with Uriel Castillo of MANE
    15 Jan 2025
    Over a month after the killings of four young boys in Ecuador, now known as the Guayaquil Four, the community is still reeling but is also activated. This case has sparked a movement that is…
  • Roberto Sirvent, BAR Book Forum Editor
    BAR Book Forum: Tracy Rosenthal and Leonardo Vilchis’s Book, “Abolish Rent”
    15 Jan 2025
    In this series, we ask acclaimed authors to answer five questions about their book. This week’s featured authors are Tracy Rosenthal and Leonardo Vilchis. Their book is Abolish Rent: How Tenants Can…
  • JP Sloan
    all their deaths were ruled suicide
    15 Jan 2025
    for Aiyana, for Tommie, for Jordan.
  • Business Ghana
    Haiti, Africa, And the Unfinished Project Of Black Sovereignty
    15 Jan 2025
    In excerpts from a speech given in Accra, Ghana, BAR editor and contributor Dr. Jemima Pierre highlights the United Nations’ involvement in the 2004 coup d'état and the subsequent…
  • Load More
Subscribe
connect with us
about us
contact us