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
    Minnesota 9 — now say their names: pastor, lawyer, journalists and resistance leaders
    04 Feb 2026
    "Minnesota 9 — now say their names: pastor, lawyer, journalists and resistance leaders" is the latest from BAR's Poet-in-Residence.
  • Roberto Sirvent, BAR Book Forum Editor
    BAR Book Forum: Marisa Solomon’s Book, “The Elsewhere Is Black”
    04 Feb 2026
    In this series, we ask acclaimed authors to answer five questions about their book. This week’s featured author is Marisa Solomon. Solomon is Assistant Professor of Women’s, Gender, and…
  • Anthony Karefa Rogers-Wright
    The EPA’s Zero Sum Game Surfaces a Dialectical Paradox That Should Be Celebrated, Not Decried
    04 Feb 2026
    The debate over the EPA's new math misses the point. The agency hasn't changed its values, it has simply stopped pretending to account for communities it was never built to protect.
  • Isaac Saney
    Cuba Must Not Fall! Imperialism, Resistance and the Global Stakes of Defending the Cuban Revolution
    04 Feb 2026
    The survival of Cuba's socialist project remains one of the most critical holdouts against hemispheric domination, making its defense a global litmus test for sovereignty.
  • Black Alliance For Peace
    On the Anniversary of the Declaration of a ‘Zone of Peace’, the U.S. Heightens its Murderous Assault on the Cuban People and Revolution
    04 Feb 2026
    Branding Cuba an "extraordinary threat" on the anniversary of a regional peace declaration, the U.S. has escalated an assault designed to destroy hemispheric solidarity and justify hybrid war.
  • Load More
Subscribe
connect with us
about us
contact us