I think we are roughly down from 40% of americans with a pension to 10%...the 401(k) was a experiment to replace pensions, of course when the pension disappeare

I think we are roughly down from 40% of americans with a pension to 10%...the 401(k) was a experiment to replace pensions, of course when the pension disappeared wages never increased to supplement workers. Combined with The addition of student loans and healthcare cost increases, the 401(k) has pretty much been a failure, but they do make up the difference in pensions almost perfectly with about 30% of Americans at least having a 401(k) account.