Despite what you might read in the nave mainstream press, 401(k) retirement investors continue to thrive.

Pacific Investment Management Co.s Chief Executive Officer Douglas Hodge said the firm is expecting and is ready for client redemptions following the departure of co-founder Bill Gross.

Gross, 70, who co-founded Pimco more than four decades ago and managed the worlds biggest bond fund, will start Sept. 29 at Janus Capital Group Inc.

The Senate Finance Committee hears plenty of suggestions on ways to help people save more, but also that the idea of a retirement crisis is simply overblown.