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


  • What Are Identity Politics? A Vision of Solidarity Rooted in Black Feminism
    Marian Jones 
    What Are Identity Politics? A Vision of Solidarity Rooted in Black Feminism
    10 Mar 2021
    The CRC never defined identity politics as exclusionary or intended to mean that only those who experience a certain oppression can fight to end it.
  • The Rise of the Private Police
    Amelia Pollard
    The Rise of the Private Police
    10 Mar 2021
    South Africa is leading the way into the horror of policing for profit. 
  • The Attack That Never Happened: Cuba and the US Fantasy of Sonic Attacks
    Rosa Miriam Elizalde
    The Attack That Never Happened: Cuba and the US Fantasy of Sonic Attacks
    10 Mar 2021
    Renowned Cuban journalist Rosa Miriam Elizalde discusses the long-lasting impact of the US allegation that “sonic attacks” were carried out against US embassy staff.
  • The Black Struggle and the Future of Humankind
    Philippe Gendrault
    The Black Struggle and the Future of Humankind
    10 Mar 2021
    Exploited within the belly of the beast, the struggle for Black emancipation cannot avoid its global ramifications when it comes to ending the hegemon’s domestic violence and global destructiveness
  •  Black Agenda Radio for Week of March 8, 2021
    Black Agenda Radio with Margaret Kimberley and Glen Ford
    Black Agenda Radio for Week of March 8, 2021
    09 Mar 2021
    Free All Political, Elderly and Covid-Infected Prisoners, Say Mumia Supporters
  • Load More
Subscribe
connect with us
about us
contact us