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


  • Hamza Hamouchene
    The psychology of oppression and liberation
    03 Jul 2024
    As the world watches the ongoing genocide in Gaza, a thorough reading and understanding of Frantz Fanon's writings around colonialism, revolution, and psychology are critical to the struggle for…
  • Jim India
    Dear Haiti, our Kenyan police are a problem
    03 Jul 2024
    Kenya's police are notorious for their violence and disregard for the Kenyan people. As they arrive in Haiti for the "security support" mission, Haitians should be aware of the brutality they…
  • Eric Umansky
    How the N.Y.P.D. Quietly Shuts Down Discipline Cases Against Officers
    03 Jul 2024
    Police Commissioner Edward Caban has often relied on an obscure authority to intervene when officers are accused of serious wrongdoing, often handing out little to no punishment.
  • Black Agenda Radio
    Black Agenda Radio with Margaret Kimberley
    Black Agenda Radio June 28, 2024
    28 Jun 2024
    This week, we discuss the Shelby County v. Holder Supreme Court decision and the need to reinstate the gutted provisions. Also, Washington, D.C. activists mobilize against the new crime bill. But…
  • Al Sharpton press conference
    Black Agenda Radio with Margaret Kimberley
    Sharpton and Black Misleaders Support the Occupation of Haiti
    28 Jun 2024
    Dahoud Andre joins us to discuss Rev. Al Sharpton and other self-titled New York City Faith Leaders who are openly supporting the latest occupation of Haiti, which has recently begun with the arrival…
  • Load More
Subscribe
connect with us
about us
contact us