The Looming Retirement Security Crisis

Today's New York Times editorial focuses on the next big policy and financial crisis-- the inability of 401 k plans to meet the retirement demands of most Americans. The financial crash has shown the fragility of even the most conscientious small investor's planning for retirement. While modernizing and updating 401(k) saving plans has been hailed as the best path to secure retirement, in fact 401(k) plans are fraught with danger if they are a primary tool for retirement savings. The lack transparency, obtuse fee structures, little understood risk exposure, and fiducuairy conflicts all plague the system. For people a few years off from retirement and those now in retirement who saw their investment portfolios implode by 40 or 50 percent, the time is now to devise new solutions. ShareOwners.org intends to be part of those discussions.

You can read the editorial here.

http://www.nytimes.com/2009/08/24/opinion/24mon1.html?hpw" target="...