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


  • I AM FOR THE RIGHT TO BE FREE!!!!
    Shaka Shakur
    I AM FOR THE RIGHT TO BE FREE!!!!
    05 Apr 2023
    Shaka Shakur is a revolutionary New Afrikan prisoner who has spent the past two decades incarcerated by the Indiana Department of Corrections on trumped up charges. He has consistently been targeted…
  • The Need for Independent Left Leadership
    Sudip Bhattacharya
    The Need for Independent Left Leadership
    05 Apr 2023
    Leftists in the U.S. must forge independent formations. Electoral politics are still a dead end.
  • Judge Clemons Denies a New Trial for Mumia Abu Jamal
    Noelle Hanrahan
    Judge Clemons Denies a New Trial for Mumia Abu Jamal
    05 Apr 2023
    A judge denied political prisoner Mumia Abu Jamal a new trial, and in so doing denies prosecutorial misconduct, suborning of perjury, and other wrongdoing committed against him. 
  • Communism, Islam, & Serving Our Neighbors
    D. Musa Springer
    Communism, Islam, & Serving Our Neighbors
    05 Apr 2023
    There are connections between spiritual and political beliefs. The writer advises, "...consider the synergy between the principles of our faith and the revolutionary spirit of communism."
  • TikTok on Trial: The Latest Front in the U.S. Tech War on China
    Amanda Yee
    TikTok on Trial: The Latest Front in the U.S. Tech War on China
    05 Apr 2023
    The U.S. engages in a futile effort to diminish China's economic prowess. The propaganda war against Tik Tok is the latest salvo, and concerns about data privacy are misdirection intended to help U.S…
  • Load More
Subscribe
connect with us
about us
contact us