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


  • ESSAY: Racial Genocide: The Case of the Martinsville Seven, William L. Patterson, 1969
    Editors, The Black Agenda Review
    ESSAY: Racial Genocide: The Case of the Martinsville Seven, William L. Patterson, 1969
    24 Aug 2022
    For Black August, read William L. Patterson on racial genocide, the law, and the Martinsville Seven.
  • The U.S. Legacy in Afghanistan: War Crimes and Imperialist Double Standards
    Danny Haiphong, BAR Contributing Editor
    The U.S. Legacy in Afghanistan: War Crimes and Imperialist Double Standards
    24 Aug 2022
    One year ago the U.S. was ousted from Afghanistan after making war on that country for 20 years. But the U.S. killed civilians as it left and stole Afghanistan's assets. It seems there is no end to…
  • Wizard of Oz redux—  …and some casting questions…
    Raymond Nat Turner, BAR poet-in-residence
    Wizard of Oz redux— …and some casting questions…
    24 Aug 2022
                                                           …
  • BAR Book Forum: Boukary Sawadogo’s Book, “Africans in Harlem”
    Roberto Sirvent, BAR Book Forum Editor
    BAR Book Forum: Boukary Sawadogo’s Book, “Africans in Harlem”
    24 Aug 2022
    This week’s featured author is Boukary Sawadogo. Sawadogo is Associate Professor of Cinema Studies and Black Studies at City College–City University of New York. His book is Africans in Harlem: An…
  • “Revolutionary Organizing: An Interview with Ahjamu Umi”
    Ahjamu Umi , Roberto Sirvent
    “Revolutionary Organizing: An Interview with Ahjamu Umi”
    24 Aug 2022
    Ahjamu Umi and Roberto Sirvent discuss revolutionary organizing.
  • Load More
Subscribe
connect with us
about us
contact us