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
    Use and Abuse of the Genocide Convention
    05 Nov 2025
    Genocide crime, as defined by the UN Convention on Genocide, is sadly common. When does the world decide to respond? 
  • Tunde Osazua
    Nigeria in the Crosshairs: Separating Fact from Fiction in the Looming Crisis
    05 Nov 2025
    The threat of U.S. military action in Nigeria has little to do with protecting Christians and everything to do with domestic U.S. politics and international political games. The "genocide" claim…
  • Anthony Karefa Rogers-Wright
    Basis for Climate and Environmental Liberation
    05 Nov 2025
    A movement born from radical action now risks being defanged by racism and elite capture. As the climate crisis continues to grow, the only viable path is a radical struggle for climate and…
  • Kwabena Dennot Nyack
    Grenada – Forward Ever: The Caribbean as a Zone of Peace
    05 Nov 2025
    Grenada's revolution was a brief and brilliant moment that was undone by errors and U.S. intervention. Its legacy must be remembered as the U.S. continues to violate the sovereignty of nations in the…
  • ​​​​​​​ Ajamu Baraka, BAR editor and columnist
    Fascism Born in the Colonies, Not Europe
    05 Nov 2025
    Europe refined fascism in its colonies long before bringing the model home.
  • Load More
Subscribe
connect with us
about us
contact us