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


  • Black Agenda Radio May 19, 2023
    Black Agenda Radio with Margaret Kimberley
    Black Agenda Radio May 19, 2023
    19 May 2023
    How bail reform has been undermined by legislators in New York State and around the country, and New York City mayor Eric Adams’ response to the killing of Jordan Neely. But first we learn about the…
  • Haitian Flag Day and US Imperialism
    Black Agenda Radio with Margaret Kimberley
    Haitian Flag Day and US Imperialism
    19 May 2023
    Dahoud Andre is a member of KOMOKODA, the Committee to Mobilize Against Dictatorship in Haiti.
  • Bail Reform Undermined in New York and Across the Country
    Black Agenda Radio with Margaret Kimberley
    Bail Reform Undermined in New York and Across the Country
    19 May 2023
    Erin George is National Director of Policy for the Bail Project.
  • Eric Adams' Response to the Killing of Jordan Neely
    Black Agenda Radio with Margaret Kimberley
    Eric Adams' Response to the Killing of Jordan Neely
    19 May 2023
    Margaret Kimberley was a guest on the Sputnik program, The Critical Hour, with co-hosts Dr. Wilmer Leon and Garland Nixon. She discussed New York City mayor Eric Adams’ response to the killing of…
  • Durham Report Reveals the Real Threat to “Democracy” – The FBI Weaponized by Democrat Party Affiliated Elites
    ​​​​​​​ Ajamu Baraka, BAR editor and columnist
    Durham Report Reveals the Real Threat to “Democracy” – The FBI Weaponized by Democrat Party Affiliated Elites
    17 May 2023
    Donald Trump calls Russiagate a "hoax" but it is in fact much worse. The manufactured scandal was part of successful efforts to intimidate, to censor, and to discredit opposition to state…
  • Load More
Subscribe
connect with us
about us
contact us