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


  • 55th anniversary of the Newark, New Jersey Rebellion
    Black Agenda Radio with Margaret Kimberley
    55th anniversary of the Newark, New Jersey Rebellion
    15 Jul 2022
    On July 12, 1967, a five-day long rebellion took place in Newark, New Jersey. We speak to Larry Hamm, President of the Newark based Peoples Organization for Progress, which is commemorating the…
  • Child Welfare System Damages Black Children and Families
    Black Agenda Radio with Margaret Kimberley
    Child Welfare System Damages Black Children and Families
    15 Jul 2022
    Joyce McMillan is the founder of JMacForFamilies, which works to abolish the current punitive child welfare system and to strengthen the systems of supports that keep families and communities…
  • United Nations Creates Chaos in Haiti
    Black Agenda Radio with Margaret Kimberley
    United Nations Creates Chaos in Haiti
    15 Jul 2022
    The United Nations Security Council is discussing whether to extend or to end its mandate over Haiti. The vote was delayed as requested by China, a permanent member of the Security Council. Far from…
  • The Left Lens: Jayland Walker and COINTELPRO's Ongoing Legacy
    Danny Haiphong and Margaret Kimberley
    The Left Lens: Jayland Walker and COINTELPRO's Ongoing Legacy
    15 Jul 2022
    Danny Haiphong and Margaret Kimberley discuss recent BAR articles, Protesting for Jayland Walker and 
  • FBI Still Targets Black People for Entrapment
    Margaret Kimberley, BAR Executive Editor and Senior Columnist
    FBI Still Targets Black People for Entrapment
    13 Jul 2022
    The COINTELPRO era never ended, as Black people bear the brunt of FBI surveillance. The war on terror gave a new rationale for using paid informants to entrap Black people. Romeo Langhorne is the…
  • Load More
Subscribe
connect with us
about us
contact us