It's not like every job came with a pension before 401ks (apparently it peaked at about 50%). And partially vested pensions have their own issues (deferring com

It's not like every job came with a pension before 401ks (apparently it peaked at about 50%). And partially vested pensions have their own issues (deferring compensation and then not receiving it). I'm not actually arguing that 401ks are a solution to retirement though. I'm arguing that they weren't initially designed as a tax shelter for the wealthy. I'm not sure what an improved system looks like. Probably something like a pension where the employer is not allowed to be the entity responsible for paying out the benefit (so that present day promises can't be funded with future contributions).