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News Analysis
Fretting over your 401(k) lately? For all the current turbulence in these retirement plans—from their rocky recent market performance to asset managers' politicization of their investments through the "environment, social and governance" agenda—the main problem lies in their flawed design decades ago, a range of retirement experts say.
They say many retirees—particularly the less well-off—are losing out because the tax-advantaged accounts favor the well-compensated who are better able to save; also, because of the plans' temptingly relaxed borrowing rules, typically high fees, complexity, and a presumption of investing competence on the part of ordinary workers....