401ks put the burden of investing wisely- and tightening your belt during recessions- on the pensioner and not the employer. This is bad in many ways, but, they

401ks put the burden of investing wisely- and tightening your belt during recessions- on the pensioner and not the employer. This is bad in many ways, but, they are at least immune from the problem of crooked and moronic administrators investing in rare coins (http://en.wikipedia.org/wiki/Coingate_scandal http://en.wikipedia.org/wiki/Coingate_scandal) and sticking taxpayers with the fallout forever. It would be funnier if it wasn't so regular an occurrence.