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


  • Congressional Candidate John Parker and the Gaza Relief Effort
    Black Agenda Radio with Margaret Kimberley
    Congressional Candidate John Parker and the Gaza Relief Effort
    15 Dec 2023
    John Parker is Coordinator of the Harriet Tubman Center for Social Justice in Los Angeles and a candidate for a congressional seat in California’s 37th District.
  • Construction of the Ouanaminthe Canal in Haiti, Part 1
    Black Agenda Radio with Margaret Kimberley
    Construction of the Ouanaminthe Canal in Haiti, Part 1
    15 Dec 2023
    Construction of the Ouanaminthe Canal is a declaration of self-determination for the Haitian people.
  • Fair Access to Victim Compensation in New York
    Black Agenda Radio with Margaret Kimberley
    Fair Access to Victim Compensation in New York
    15 Dec 2023
    The Fair Access to Victim Compensation Act was recently signed into law in New York.
  • Cover of the "We Charge Genocide" book
    Margaret Kimberley, BAR Executive Editor and Senior Columnist
    When Genocide Is No Longer Genocide
    13 Dec 2023
    Some of Israel's defenders want to do away with the concept of genocide in hopes of washing away its war crimes. Any redefinition would allow the U.S. to disappear the many genocides it has committed…
  • Image of Refaat Alareer sitting in a crowd of graduates
    Editors, The Black Agenda Review
    POEM: If I Must Die, Refaat Alareer, 2023
    13 Dec 2023
    Palestinian poet Refaat Alareer, a martyr of zionist state genocidal violence, has left us with a tale of resistance and hope.
  • Load More
Subscribe
connect with us
about us
contact us