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


  • A lil’ homegoing homage to Brother Donald…
    Raymond Nat Turner, BAR poet-in-residence
    A lil’ homegoing homage to Brother Donald…
    27 Apr 2022
    Donald Smith always performed at Black Agenda Report events in New York City. He was a great musician and friend to the Black Agenda Report team. He will be missed.
  • Notes from Wartorn Ethiopia, Part III: Crimes of the Tigrayan People’s Liberation Front
    Ann Garrison, BAR Contributing Editor
    Notes from Wartorn Ethiopia, Part III: Crimes of the Tigrayan People’s Liberation Front
    27 Apr 2022
    BAR contributor Ann Garrison reports on conditions in Ethiopia.
  • BAR Book Forum: Mercy Romero’s “Toward Camden”
    Roberto Sirvent, BAR Book Forum Editor
    BAR Book Forum: Mercy Romero’s “Toward Camden”
    27 Apr 2022
    In this series, we ask acclaimed authors to answer five questions about their book. This week’s featured author is Mercy Romero. Romero is Associate Professor of American Literature and American…
  • BAR Book Forum: Treva B. Lindsey’s “America, Goddam”
    Roberto Sirvent, BAR Book Forum Editor
    BAR Book Forum: Treva B. Lindsey’s “America, Goddam”
    27 Apr 2022
    In this series, we ask acclaimed authors to answer five questions about their book. This week’s featured author is Treva B. Lindsey. Lindsey is Associate Professor in the Women's, Gender, and…
  • The Little-Known International Charter At The Center of Ukraine War and China's Future Defense
    Jacqueline Luqman
    The Little-Known International Charter At The Center of Ukraine War and China's Future Defense
    27 Apr 2022
    The U.S. talks about "rule based order" because international law is not on its side. The OSCE 1999 Charter explains why the Biden administration would rather make up a new phrase out of whole cloth…
  • Load More
Subscribe
connect with us
about us
contact us