I would have gone for that in my 30s - and still think it’s a good idea. Some kind of managed index fund that returns 4-5%/year would be an outstanding retirement for most people.

We may not have, twenty years ago, but, now, we do need to consider the possibilities for corruption, just as some 401ks are corrupt. Some years ago, the employees at Honda of America sued complaining that the manager of the program, was self dealing, because the manager only made a handful of funds, all from his own company, available, and they all had poor performance and high expenses.

Remember the howl that went up from Wall St, when Congress tried to pass a law requiring investment advisors for retirement accounts be held to a fiduciary standard?

I wonder, given a free hand, how many 401k managers would look at that stack of worker's money as nothing but something to be looted?

Color Tile and Worldcom both had 401ks. They were stacked with company securities, so the worker's retirement savings were wiped out when the companies went BK.

And, if the Proles are robbed of their retirement savings, they won't retire. People have been complaining about "JCs" discriminating against older workers as long as I can remember. Steal their retirement savings, and floods of old phartz will try to hang on, to the considerable irritation of the "JCs".

Steve