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


  • John Parker
    Supreme Court targets Voting Rights Act of 1965 – denying justice and peace
    22 Jul 2026
    The fight for the ballot has always been tied to a wider war against Black political power, against workers, against the people paying for empire abroad and austerity at home.
  • BAR Radio Logo
    Black Agenda Radio with Margaret Kimberley
    Black Agenda Radio July 17, 2026
    17 Jul 2026
    In this week’s segment, we discuss the Supreme Court ruling that ends Temporary Protected Status (TPS) for Haitian immigrants. But we begin with South Africa and discuss the origins of xenophobic…
  • South Africa
    Black Agenda Radio with Margaret Kimberley
    The Anti-Immigration Movement in South Africa
    17 Jul 2026
    What is behind this South African movement that drives immigrants out of the country? We are joined by Nairobi-based political writer and strategist Clinton Nzala, who provides analysis on the…
  • Haitian flags
    Black Agenda Radio with Margaret Kimberley
    Trump Administration Ends TPS for Haitians
    17 Jul 2026
    On June 25, the Supreme Court of the United States ruled that Temporary Protected Status (TPS) for Haitians and Syrians would end. What does this ruling mean for the more than 350,000 Haitians living…
  • Margaret Kimberley, BAR Executive Editor and Senior Columnist
    Lindsey Graham Was the Face of the Duopoly
    15 Jul 2026
    The late Senator Lindsey Graham played the role of chief congressional warmonger very well. But many of his colleagues, who spoke in quieter voices, were completely aligned with his support of U.S.…
  • Load More
Subscribe
connect with us
about us
contact us