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


  • The Black Alliance For Peace Denounces Biden Regime’s New Sanctions on Cuba and Stands with the Cuban People
    Black Alliance For Peace
    The Black Alliance For Peace Denounces Biden Regime’s New Sanctions on Cuba and Stands with the Cuban People
    13 Jul 2022
    Black Alliance for Peace condemns U.S. sanctions on Cuba and supports self-determination and sovereignty for that nation.
  • Black Agenda Radio July 8, 2022
    Margaret Kimberley, BAR Executive Editor and Senior Columnist
    Black Agenda Radio July 8, 2022
    08 Jul 2022
    U.S. involvement in Cuban protests on July 11, 2021, Black community in Atlantic City, NJ fights for justice, and Democrats' political pressure and voter intimidation remove Green Party from North…
  • U.S. Interference in Cuba on July 11, 2021
    Margaret Kimberley, BAR Executive Editor and Senior Columnist
    U.S. Interference in Cuba on July 11, 2021
    08 Jul 2022
    The U.S. played a role in orchestrating what were described as anti-government protests in Cuba on July 11, 2021. Isaac Saney is a history professor and Cuba specialist at Dalhousie University in…
  • Atlantic City's Black Community Fights for Justice
    Margaret Kimberley, BAR Executive Editor and Senior Columnist
    Atlantic City's Black Community Fights for Justice
    08 Jul 2022
    On July 4, 2020, seven Black men were arrested while protesting the police killing of George Floyd. But Atlantic City’s black community also suffers from ineffective political leadership, corporate…
  •  Democrats Remove Green Party from North Carolina Ballot
    Margaret Kimberley, BAR Executive Editor and Senior Columnist
    Democrats Remove Green Party from North Carolina Ballot
    08 Jul 2022
    The Democratic Party succeeded in using voter intimidation and political pressure to remove the Green Party from ballot access in North Carolina. Tony Ndege is an organizer and co-Chair of the North…
  • Load More
Subscribe
connect with us
about us
contact us