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


  • Israeli Ambassador at the United Nations
    Ann Garrison, BAR Contributing Editor
    Israel Declares Most of Humanity Illegitimate and Irrelevant
    01 Nov 2023
    After 120 members of the 193 members of the UN General Assembly called for an immediate ceasefire in Gaza, Israel demonstrated its increasing isolation by declaring the UN illegitimate and irrelevant.
  • Facebook censorship
    Margaret Kimberley, BAR Executive Editor and Senior Columnist
    Pro-Israel War Propaganda and Censorship
    25 Oct 2023
    Any public statement which questions Israel's war against Gaza is potentially met with personal attack and punishment but the stamp of approval from the Biden administration is the real cause of the…
  • Orisanmi Burton and his book, "Tip of the Sphere"
    Roberto Sirvent, BAR Book Forum Editor
    BAR Book Forum: Orisanmi Burton’s Book, “Tip of the Spear”
    25 Oct 2023
    This week’s featured author is Orisanmi Burton. His book is Tip of the Spear: Black Radicalism, Prison Repression, and the Long Attica Revolt
  • Javonte Alexander (left) and Basaime Spate (right), researchers at Center for Justice Innovation.
    Shannon Chaffers
    Driven By Fear: Why Some Brooklyn Youth Carry Guns
    25 Oct 2023
    Tropes about violent Black youth prevail but efforts to analyze the causes of firearm use are rarely seen.
  • Niger army sergeant and artist Maman Sani Maigochi performs as supporters gather at Place de la Concertation in the capital Niamey
    Black Alliance For Peace
    AFRICOM Watch Bulletin #48
    25 Oct 2023
    The Black Alliance for Peace U.S. Out of Africa Network provides an update of events taking place on the African continent.
  • Load More
Subscribe
connect with us
about us
contact us