CNBC: The Verdict Is In, and America's 401(k) Accounts Are a Crashing Failure

http://www.newsmax.com/Finance/StreetTalk/401k-saving-retire-pension/2015/03/23/id/631952/?ns_mail_uid=14578862&ns_mail_job=1614145_03242015&s=al&dkt_nbr=vgqfxvjp

The Employee Benefit Research Institute estimates the median amount in U.S. 401(k) accounts is a paltry $18,433 and almost 40 percent of workers have less than $10,000 in those instruments.

 

"In America, when we had disability and defined benefit plans, you actually had an equality of retirement period. Now the rich can retire and workers have to work until they die," Teresa Ghilarducci, a labor economist at the New School for Social Research, told CNBC.