When a venerable mainstream media institution such as the New York Times wades into the normally placid waters of the 401(k) world, you know that there could be some ripples.
So this week, when the Times did a virtual roundtable to probe one simple question – should the 401(k) be reformed or replaced – it probably got more than a few of you thinking about this standardized, controversial and befuddling retirement tool, one that generates equal amounts love and hate.
From the participant point of view, the 401(k) has certainly demonstrated that it's not the be-all, one-stop-shopping solution to every American's retirement future. The market risk factors that were designed to accentuate the 401(k)'s positives back in the early days also turned out to be tremendously disappointing to millions and millions of contributors over the past few years.
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