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


  • BAR Radio Logo
    Black Agenda Radio with Margaret Kimberley
    Black Agenda Radio January 23, 2026
    23 Jan 2026
    In this week’s segment, we cover state repression and regime change efforts. While the corporate media parroted state narratives about a popular uprising in Iran, all evidence indicates that recent…
  • ICE Protest
    Black Agenda Radio with Margaret Kimberley
    ICE Domestic Repression in Minnesota
    23 Jan 2026
    Mnar Adley is the founder and director of MintPress News, an independent media outlet. She joins us from Minneapolis, Minnesota, where Donald Trump's ICE enforcement is used as domestic police…
  • Iran
    Black Agenda Radio with Margaret Kimberley
    U.S. and Israel Attempt Regime Change Against Iran
    23 Jan 2026
    Nina Farnia is an assistant professor at Albany Law School in New York. She is a legal historian, focusing on the role of modern imperialism in U.S. law and politics, and a member of the Anti-…
  • Tobi Raji
    RFK-backed Infant Vaccine Study in Africa to Proceed Despite Backlash, U.S. Says
    21 Jan 2026
    U.S. funding for a study on the timing of hepatitis B vaccine doses in infants in Guinea-Bissau violates accepted standards of medical ethics.
  • Margaret Kimberley, BAR Executive Editor and Senior Columnist
    Racist, Imperialist U.S. Vassal Denmark Now Cries Over Greenland
    21 Jan 2026
    Donald Trump and other U.S. presidents are gangsters who will sometimes steal from their own crew. The Greenland heist is but the latest example, as the Denmark colonizers cry that they were robbed…
  • Load More
Subscribe
connect with us
about us
contact us