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


  • Raymond Nat Turner, BAR poet-in-residence
    Kid growing up under growing fascism
    25 Feb 2026
    "Kid growing up under growing fascism" is the latest from BAR's Poet-in-Residence.
  • Anthony Karefa Rogers-Wright
    The World Does Need to Stop Singling Out Israel… By Holding it Accountable
    25 Feb 2026
    Israel has been singled out for immunity rather than accountability, exposing the "rules-based order" as a farce.
  • Tamanisha J. John , Kevin Edmonds
    The Caribbean People’s Debt to Cuba
    25 Feb 2026
    Caribbean governments are betraying Cuba through silence and compliance with U.S. empire. The only way to challenge this failure of leadership is for the people to build an anti-imperialist movement.
  • Gerald A. Perreira
    Turning Its Back on Cuba: Government of Guyana Sells Its Soul
    25 Feb 2026
    Cuba has provided Guyana with doctors, scholarships, and healthcare for nearly five decades. In return, Guyana's government has turned its back at the moment of Cuba's greatest need.
  • Jason Myles
    The Rainbow and the Machine: The Jesse Jackson Phenomenon
    25 Feb 2026
    Jesse Jackson's legacy is complicated and sometimes contradictory, as he engaged in both radicalism and in political expediency.
  • Load More
Subscribe
connect with us
about us
contact us