No. of Recommendations: 5
This may sound great to the electorate, but it is a very poor idea. If the goverment starts sponsoring a 401(k) plan, how long do you think it will take for the employers currently offering 401(k) to save on the administrative expenses by terminating the current plans and sloughing all there employees off on the government plan? Something like this has already happened with retiree drug benefits when Medicare D became available.

I think the politicians should look into ways to incent small employers to offer 401(k)s, maybe through some kind of 401(k) "pool" to lower the expenses.

Typical politician - sounds good, bad consequences.

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