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


  • R.E. Wilson
    Bolsonaro and Brazil at the Edge
    17 Sep 2025
    Bolsonaro’s conviction is not a victory for democracy but a revelation of its fragility. It exposes a military that remains the armed wing of the ruling class and a fascist project dedicated to…
  • Francis Phillip
    The Imperial Contradiction Behind the 2023 Fuel Subsidy Removal in Nigeria
    17 Sep 2025
    Nigeria’s inability to refine its own oil is a legacy of British and US imperialism designed to maintain dependence. President Tinubu’s removal of the fuel subsidy was not an economic reform but an…
  • Ryan Mills
    OPINION: The National Black Radical Organizing Conference: Carrying on Tradition
    17 Sep 2025
    Organizer Ryan Mills shares his firsthand experience as one of the organizers of the 2025 National Black Radical Organizing Conference in Indianapolis, Indiana. "This was truly an event that I will…
  • BettBeat
    Capitalism Hijacked the World to Keep Contributing to Genocide—BRICS Proves It
    17 Sep 2025
    We are like addicts who scream "no" while stabbing the needle into our arms. The rational mind recoils from the horror, but the economic body continues its automated motions of complicity.
  • Gerald A. Perreira
    Guyana: A Pawn of US Imperialism
    17 Sep 2025
    Guyana’s leadership is a willing pawn for US imperialism, endangering regional peace for the sake of placating the hegemon.
  • Load More
Subscribe
connect with us
about us
contact us