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


  • Roberto Sirvent, BAR Book Forum Editor
    BAR Book Forum: Edna Bonhomme’s Book, “A History of the World in Six Plagues”
    11 Jun 2025
    This week’s featured author is Edna Bonhomme. Bonhomme is a historian of science, culture writer, and journalist based in Berlin, Germany. Her book is A History of the World in Six Plagues: How…
  • Jill Clark-Gollub
    Daniel Ortega is No Bukele
    11 Jun 2025
    Ortega and Bukele are polar opposites: one invests in dignity and democracy, the other in mass incarceration and imperial alliances.
  • Aiyana Porter-Cash
    False Promises of Protection Embedded in U.S. Militarism and Carcerality
    11 Jun 2025
    "Protection" is a lie—a pretext for state violence, militarism, and control, targeting the marginalized while masking harm as care. True safety comes not from oppressive systems, but from resistance…
  • Black Alliance For Peace
    Oppression Breeds Resistance, Organization Sustains It
    11 Jun 2025
    Defeating the war on Black/African people requires solidarity with all who are oppressed and resistance against our common enemy.
  • Jonathan Forney
    7 Supreme Court Cases That Black Americans Should Track This Summer
    11 Jun 2025
    Issues before the high court range from health care access and citizenship to workplace discrimination and redistricting.
  • Load More
Subscribe
connect with us
about us
contact us