Rekenthaler drop-kicks PBS' documentary. PrintCommentRecommend
(-) Bookmark and Share By John Rekenthaler | 06-12-13 |
09:00 AM | Email Article  Overstate Much? Nobody loves 401(k)
plans these days. Once the media's darling, 401(k)s have come
under increasing scrutiny and criticism, culminating in April's
widely viewed PBS "Frontline" documentary, "The Retirement
Gamble," which savaged 401(k)s for their role in the country's
"retirement crisis."  John Rekenthaler is Vice President of
Research for Morningstar.  I'm not sold. Yes, 401(k) plans are
imperfect. (So, too, were Mother Teresa and sliced bread.) They
are too expensive for small companies. They often fail to reach
younger and/or lower-income workers. They may contain
unpalatable funds. Historically, many employees have not
understood how to use 401(k) plans and have not used them
particularly well. Those are legitimate criticisms.  "The
Retirement Gamble," however, goes well past legitimate. To make
its points, the show misrepresents the typical invest