Whose Responsibility Is a 401(K) Plan?

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401ks should belong to the individual and it should be his responsibility since the retirement in question is his. What is needed is an educated and informed citizenry which you won't get in a system where companies and government make all the decisions for the citizens.
In a private system, people who make bad decisions will suffer the losses but where the government comes to the rescue of poor decision makers and bails them out at taxpayer expense, everyone's rights are violated for the foolish few who then learn nothing. That is not helping them or the population at large.

Mike N of MI 10:24AM August 13, 2008

Retirement preparation requires planning, luck, and faith.
Plan - Build a nest egg so you don't need to count on employer, government, spouse, or anyone else for your financial security. Be vocal with your company's benefits staff about what you'd like to see. Don't smoke or take crazy chances with your life.
Luck - Don't get sick, don't get injured, don't work in a dead end industry.
Faith - Believe that God watches over us all and won't give us more than we can handle.

Annette of NM 9:40PM August 12, 2008

Employers will offer exactly how much help (on retirement or anything else) that they are required to in order to attract and retain the workers they need, and not a bit more.
Used to be that most likely required the employer maintaining both a union contract and a defined benefit pension plan. Today, not hardly. You, dear American worker, are mostly expendable. Don't like that? Then you had better elect all the Democrats you can find for government help with future policy. And without delay.
Because the "free market solution" amounts to this: Your replacement is waiting in a foreign country to eat your job and you have little to no leverage EXCEPT government.

Daniel David of NM 1:50PM August 12, 2008