Good reasons to be uneasy about retirement security
By 1995, there were more 401(k)s plans than traditional pension plans. Now there are about twice as many. And they're not working out that well, Robert Hiltonsmith, a policy analyst at the think tank Demos, shows in his paper "The Failure of the 401(k)."
The failure, experts say, basically, is this: The typical worker approaching retirement needs about $250,000 in a 401(k). Most don't come close. The average is closer to $98,000 - only a bit more than a third of the recommended amount.