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


  • Unjust Measures Imposed on Labor and African Americans After Midterm Elections
    Abayomi Azikiwe
    Unjust Measures Imposed on Labor and African Americans After Midterm Elections
    07 Dec 2022
    The Biden administration and congress forced railroad workers to accept a contract without paid sick leave and Jackson, Mississippi residents face an administration consent decree on water…
  • Black Alliance for Peace Stands in Solidarity with the People of Haiti and Haitian Migrants Against Racist Harassment and Mass Deportations in the Dominican Republic
    Black Alliance for Peace Haiti/Americas Team
    Black Alliance for Peace Stands in Solidarity with the People of Haiti and Haitian Migrants Against Racist Harassment and Mass Deportations in the Dominican Republic
    07 Dec 2022
    The Black Alliance for Peace again brings attention to the Dominican Republic's human rights violations against Haitians and Haitian descended Dominicans.
  • Merkel Reveals West’s Duplicity
    Scott Ritter
    Merkel Reveals West’s Duplicity
    07 Dec 2022
    Former German Chancellor Angela Merkel admitted that the collective west never had any intention of honest dealings with Russia. This "war of choice" was not provoked by Russia.
  • Afghanistan News Update #15
    Black Alliance For Peace
    Afghanistan News Update #15
    07 Dec 2022
    The U.S. continues its theft of Afghanistan's assets, and the people there continue to suffer. 
  • Black Agenda Radio December 2, 2022
    Black Agenda Radio with Margaret Kimberley
    Black Agenda Radio December 2, 2022
    02 Dec 2022
    The NYPD Gang Database profiles communities of color, Cleveland's mayor breaks a campaign promise for community control of police, and a conversation on which protests are considered legitimate, and…
  • Load More
Subscribe
connect with us
about us
contact us