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


  • Margaret Kimberley, BAR Executive Editor and Senior Columnist
    Trump and U.S. Hubris Undid the Plan for Iran's Destruction
    08 Apr 2026
    The U.S. has been temporarily rattled in its regime change effort against Iran. Iranian resistance, hubris on the part of the U.S., and Donald Trump’s personal instability combined to undo a twisted…
  • Margaret Kimberley, BAR Executive Editor and Senior Columnist , ​​​​​​​ Ajamu Baraka, BAR editor and columnist
    The Twilight of Western White Power Will Usher in the Dawn of a New Global Civilization Without Systemic Degradation and Dehumanization
    08 Apr 2026
    A conversation focusing on U.S. actions against Iran explains why the imperialist drive for domination will actually lead to a superpower becoming much less powerful.
  • Editors, The Black Agenda Review
    ESSAY: Is the US Anti-Caribbean? How to overcome it then, Tim Hector, 1997
    08 Apr 2026
    “...it is like a knee-jerk reaction in the U.S – this consistent, insistent and persistent anti-Caribbean policy in the U.S. from 1776 to the present.”
  • Ann Garrison, BAR Contributing Editor
    Iran’s Nuclear Rights
    08 Apr 2026
    Most of the world would be at greater ease if Iran had a nuclear bomb.
  • Anthony Karefa Rogers-Wright
    A Sigh of Relief…But Breathing Easy is Impossible in a Circumference of U.S. Empire (Or, the Perpetual Relevance of Frederick Douglass’s Prescription for Resistance)
    08 Apr 2026
    The ceasefire brings a sense of relief but not safety. Iran showed that the empire is not invincible, but the US commitment to the doctrine of hegemony has not changed.
  • Load More
Subscribe
connect with us
about us
contact us