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


  • Musings from the Margins # 3: The Crimes of the White West are Coming Home Again, Or as Malcom X Said, “The Chickens are Coming Home to Roost”
    ​​​​​​​ Ajamu Baraka, BAR editor and columnist
    Musings from the Margins # 3: The Crimes of the White West are Coming Home Again, Or as Malcom X Said, “The Chickens are Coming Home to Roost”
    13 Sep 2023
    Black Agenda Report Editor and Columnist Ajamu Baraka has thoughts on September 11, Haiti, white supremacy in Biden’s Ukraine policy, the criminalization of dissent, and other issues.
  • Dr. Gerald Horne Discusses Events in Africa
    Danny Haiphong and Margaret Kimberley
    Dr. Gerald Horne Discusses Events in Africa
    13 Sep 2023
    Margaret Kimberley and Danny Haiphong spoke with Dr. Gerald Horne about events in Africa including the coup in Niger, U.S. interference in the Sahel region and ECOWAS, African nations assisting U.S.…
  • Cops, Colleges, and Counterinsurgency: An Interview with Dylan Rodriguez
    Dylan Rodríguez , Roberto Sirvent
    Cops, Colleges, and Counterinsurgency: An Interview with Dylan Rodriguez
    13 Sep 2023
    An interview with Dylan Rodriguez.
  • A Justice System That Is Not Fair and Just For Everyone Is Not Fair and Just For Anyone
    Jacqueline Luqman
    A Justice System That Is Not Fair and Just For Everyone Is Not Fair and Just For Anyone
    13 Sep 2023
    A Black Proud Boy gets the Black people treatment in court, Stop Cop City activists are punished for supporting the Atlanta Black community, and prosecutors indict on specious and politically…
  • The Pyramid Scheme That is Racial Capitalism
    Jon Jeter
    The Pyramid Scheme That is Racial Capitalism
    13 Sep 2023
    Black people are both the focus of racist hate and of capitalist predation.
  • Load More
Subscribe
connect with us
about us
contact us