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


  • Invitations for a Seat at the U.S.-Africa Leaders Summit Table Should Not Only Be Rejected, the Table Needs Turning Over!
    Black Alliance For Peace
    Invitations for a Seat at the U.S.-Africa Leaders Summit Table Should Not Only Be Rejected, the Table Needs Turning Over!
    14 Dec 2022
    The 2022 U.S. African Leaders Summit is the latest effort by Washington to exert influence on a continent where it habitually thwarts democracy, sovereignty and independence for 54 nations. 
  • Rain of Sanctions Augurs U.S.-Prodded Regime Change in Haiti from Musseau to Montana
    Travis Ross
    Rain of Sanctions Augurs U.S.-Prodded Regime Change in Haiti from Musseau to Montana
    14 Dec 2022
    U.S. and Canadian sanctions against Haitians are a signal that a new Core Group regime change plot is underway.
  • Sanctions: A Wrecking Ball in a Global Economy
    Dee Knight
    Sanctions: A Wrecking Ball in a Global Economy
    14 Dec 2022
    A new book, Sanctions: A Wrecking Ball in a Global Economy, analyses unilateral coercive measures, sanctions, which are war by other means waged by the U.S. against millions of people around the…
  • Israel and the Rise of Jewish Fascism
    Chris Hedges
    Israel and the Rise of Jewish Fascism
    14 Dec 2022
    The mask is being lifted from the face of Israel’s apartheid state, exposing a grinning death’s head that portends the obliteration of the few restraints against killing Palestinians.
  • Black Agenda Radio December 9, 2022
    Black Agenda Radio with Margaret Kimberley
    Black Agenda Radio December 9, 2022
    09 Dec 2022
    Rwanda's M23 proxy militia terrorizes the Congo with U.S. permission, Chicago organizes for community control of police, and charges are dismissed in the case of abuse survivor Tracy McCarter.
  • Load More
Subscribe
connect with us
about us
contact us