What is old is new again...
I've advocated that the 401k plan is going to be revealed as a massive disaster for the private sector American worker - of course many in the private sector never have been exposed to this paradigm shift and enjoy the old school pension plans. But asking said private workers to invest with a 30 year time frame, with a prudent savings discipline, and then having them make investment choices (with most Americans never taking a basic economics or finance class of a high school level) had all the makings of a disaster. As we wrote a year ago in [Feb 7, 2009: WSJ - 5 Ways to Fix Up Your 401k Plan]
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