It’s a travesty that when we transitioned from the pension system to the 401k system that we have not made sure that the educational level and capabilities of the average employee have kept pace with the increasing demands of managing your own retirement. We simply aren’t doing enough to address the larger systemic problems with 401k plans that are making a secure retirement a pipe dream for most American workers. It is about time individual workers have some sense of how their company's retirement plan stacks up in the broader marketplace.
There is a great need for a transparent, industry standard 401k ratings system.
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Mike Alfred of CA 11:31AM January 23, 2009