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


  • Black Agenda Radio for Week of February 22, 2021
    Black Agenda Radio with Margaret Kimberley and Glen Ford
    Black Agenda Radio for Week of February 22, 2021
    23 Feb 2021
    Police, Prisons and Prosecutors just Create More Victims
  •  World Rebelling Against Dollar Domination
    Black Agenda Radio with Margaret Kimberley and Glen Ford
    World Rebelling Against Dollar Domination
    23 Feb 2021
    “Washington has been overusing the sanctions weapon,” causing both allies and competitors to seek ways to circumvent the global dominance of the dollar, said Dr Gerald Horne, the p
  • “The State” and “Racial Capitalism” to Blame for Anti-Black Violence in UK
    Black Agenda Radio with Margaret Kimberley and Glen Ford
    “The State” and “Racial Capitalism” to Blame for Anti-Black Violence in UK
    23 Feb 2021
    After long study, an anti-racial violence Monitoring Group found that anti-Black violence in the UK is driven mainly by “the police and other mechanisms of the state,” said Adam Elliott-Coo
  •  Police, Prisons and Prosecutors just Create More Victims
    Black Agenda Radio with Margaret Kimberley and Glen Ford
    Police, Prisons and Prosecutors just Create More Victims
    23 Feb 2021
    “We believe that all forms of law enforcement” in the US “are rooted in systems of violence,” said Samah Sisay, an organizer with the abolitionist group “Survived and Punished” and
  • Haiti: Black Despots and White Rulers
    Jemima Pierre
    Haiti: Black Despots and White Rulers
    17 Feb 2021
    The horror story in Haiti since 2004 is not really about despotic Black government, but is the consequence and crime of global white rule.
  • Load More
Subscribe
connect with us
about us
contact us