Why 401(k)s Have Failed – Forbes

The 401(k) plan was never meant to be a mainstream pension plan and is a poor substitute for one.

J. Steven Sprenger ✔‘s insight:

“They can set up a suite of mutual funds, but the more money they charge, the worse off future retirees are.  Until this conflict is resolved by making retirement-plan managers fiduciaries — legally responsible to put employees first — little will change. Such a rule has been pending before the SEC and Labor Dept., but the coalition of Wall Street and employers have been fighting to dilute or kill it.”

See on www.forbes.com

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