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


  • Ann Garrison, BAR Contributing Editor
    Somalia: Farmaajo Returns
    19 Nov 2025
    Farmaajo, a hugely popular Somali politician who has never been favored by the US, is widely expected to seek the presidency in Somalia’s 2026 election.
  • Raymond Nat Turner, BAR poet-in-residence
    Day 40-something pedophile-protecting government shutdown
    19 Nov 2025
    "Day 40-something pedophile-protecting government shutdown" is the latest from BAR's Poet-in-Residence.
  • Anthony Karefa Rogers-Wright , ​​​​​​​ Ajamu Baraka, BAR editor and columnist
    COPing Out In Brazil: How The United Nations Reduces its Legitimacy More Than Global Emissions
    19 Nov 2025
    Despite being held in Brazil, a nation with the largest Black population outside of the African continent, COP30 has continued a thirty-year pattern of sidelining the specific climate threats to Afro…
  • Jon Jeter
    In South Africa, White is the New Black: The ANC’s Failures Opens the Door for the Return of a Government Led by Settlers
    19 Nov 2025
    Decades of unmet promises and endemic corruption have eroded the ANC's legitimacy, creating a surge of support for a party led by South Africa's white minority.
  • Clau O'Brien Moscoso
    “Only unity will make us free:” The Masses Build and Sustain a Zone of Peace through the Unity of Struggles
    19 Nov 2025
    As U.S. militarism intensifies across Latin America and the Caribbean, regional social movements are making the firm declaration that only a unified, mass-driven front can build a true "Zone of Peace…
  • Load More
Subscribe
connect with us
about us
contact us