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


  • BAR Book Forum: Interview with Sara-Maria Sorentino
    Roberto Sirvent, BAR Book Forum Editor
    BAR Book Forum: Interview with Sara-Maria Sorentino
    30 Mar 2022
    This week’s featured scholar is Sara-Maria Sorentino. Sorentino is an Assistant Professor in the Department of Gender and Race Studies at the University of Alabama. Her article is “Mistresses as…
  • Elections in Haiti: Legitimizing Imperialism and Killing Democracy?
    Kevin Edmonds
    Elections in Haiti: Legitimizing Imperialism and Killing Democracy?
    30 Mar 2022
    As the white rulers of Haiti push for illegitimate elections, can the “Montana Accord”- an agreement among some civil society groups to return democracy to Haiti - offer a way out of the country’s…
  • Haiti: A Grassroots Analysis on the State of Affairs Since the Assassination of de facto President Jovenel Moïse
    Jelin Esau Jules
    Haiti: A Grassroots Analysis on the State of Affairs Since the Assassination of de facto President Jovenel Moïse
    30 Mar 2022
    March 29, 2022 - Haitian community activists are out in the streets to commemorate the 35th anniversary of the Haitian constitution, drafted after the fall of the Duvalier dictatorship, and to…
  • Tens of Thousands Threatened with Property Tax Foreclosures in Detroit
    Abayomi Azikiwe
    Tens of Thousands Threatened with Property Tax Foreclosures in Detroit
    30 Mar 2022
    March 31 has been designated as the deadline for Wayne County residents to pay back property taxes from 2019 and before despite the failure to provide adequate assistance to working and impoverished…
  • Telesur
    Colombian Vice-Presidential Candidate Gets Death Threat
    30 Mar 2022
    Colombian Vice Presidential candidate Francia Marquez is again threatened by right wing groups in that country. She demands that president Ivan Duque protect her and others leaders as well.
  • Load More
Subscribe
connect with us
about us
contact us