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


  • Anthony Karefa Rogers-Wright
    Fourth and Long: The Curious Juxtaposition of Jaxson Dart and Colin Kaepernick
    03 Jun 2026
    The same sports media that celebrate Jaxson Dart's endorsement of Donald Trump called Kaepernick's anti-police violence protest disrespectful. The racial double standard has not changed since the…
  • Raymond Nat Turner, BAR poet-in-residence
    Short word problems: do the math
    03 Jun 2026
    "Short word problems: do the math" is the latest from BAR's Poet-in-Residence.
  • Dhoruba bin-Wahad
    Dhoruba Bin Wahad, Co-Founder of Black Liberation Army, Reflects on the Legacy of Assata Shakur and Revolutionary Sacrifice
    03 Jun 2026
    On May 30, 2026, a Celebration of the Life and Legacy of Assata Shakur was held at the Riverside Church in New York City. Dhoruba Bin Wahad, co-founder of the Black Liberation Army, wrote these words…
  • Erica Caines
    The Persecution of Kaia Sealy and the Manufactured Crisis in Trinidad and Tobago
    03 Jun 2026
    Trinidad and Tobago's Prime Minister says she backs Trump's conservatism and capitalism, and the criminal case against a hairdresser paralyzed in a police shooting shows exactly what that partnership…
  • Clau O'Brien Moscoso
    Bolivia in Crisis: In Conversation with Evo Morales
    03 Jun 2026
    Former Bolivian president Evo Morales Ayma spoke with Black Agenda Report correspondent Clau O’Brien Moscoso.
  • Load More
Subscribe
connect with us
about us
contact us