THE WALL STREET JOURNAL ASKS: Has the 401(k) failed?
"I don’t think 401(k)s have done any worse than defined-benefit plans — those are in terrible shape too, as a bit of poking around at PensionTsunami.com will illustrate — but one advantage of 401(k) plans and the like (including 403(b)s, 457s, SEPs, etc.) is that they’re transparent. When your 401(K) balance drops by 30-40% you know your retirement is in trouble; when public (or corporate) pension funds take a similar hit we get bland reassurances that everything’s okay. Isn’t it better to know where things stand?"
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