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


  • Zohran Mamdani
    Black Agenda Radio with Margaret Kimberley
    Zohran Mamdani and the Left
    07 Nov 2025
    Lance Hawkins joins us from New York City to discuss the recent election of Zohran Mamdani, who will take office as the mayor of New York City on January 1. Lance Hawkins is a community, labor, and…
  • Nigerian Newspapers
    Black Agenda Radio with Margaret Kimberley
    Major Power Politics, Rare Earth Minerals, and Claims of Genocide in Nigeria
    07 Nov 2025
    David Hundeyin is a Nigerian investigative journalist, bestselling author, and founder of West Africa Weekly, an independent Pan-African digital news publication focusing on West Africa and the Sahel…
  • Margaret Kimberley, BAR Executive Editor and Senior Columnist
    Zohran Mamdani and a Small Victory for the People
    05 Nov 2025
    New Yorkers experienced some democracy with Zohran Mamdani's victory in the mayor's race and are inspiring voters across the country to believe that change is possible. But the outcome is a challenge…
  • Editors, The Black Agenda Review
    INTERVIEW: Blacks in Brazil: An Interview with Lélia Gonzalez, 1980
    05 Nov 2025
    “Black Brazilians have been suffering … since the establishment of slavery more than 400 years ago.”
  • Mosaab Baba
    Sudan: Africa's Regional Neo-Colonial War
    05 Nov 2025
    The conflict in Sudan is a neo-colonial takeover, with United States ally the UAE using a proxy force to exploit that nation for its resources and strategic position.
  • Load More
Subscribe
connect with us
about us
contact us