While I normally enjoy Jason Zweig’s opinions about wealth management and investing, I take issue with Zweig’s February 10th column, “Forget the 401(k). Let’s Invent a New Retirement Plan”. Zweig’s suggestion of eliminating the current 401(k) system and reinventing it, ignores the incredible successes the system has produced for tens of millions of workers and retirees. In addition, Zweig ignores innovations in plan design, recent regulatory guidance, and the integration of new financial wellness tools into the private retirement system that address many of the shortfalls he sees with the current system.
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